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Parakou Shipping v Jinhui Shipping

22 bytes added, 17:18, 15 December 2010
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The Plaintiff’s action in this case was secured by a bank guarantee and by a payment into court. After the Plaintiff’s claim was struck out, the trial judge, Reyes J, refused to stay the payment to the Defendant of the money in court, subject to a retention of US$1.5 million in court and the Defendant’s undertaking to pay into court any sum recovered from the Plaintiff. On 17 November 2010, the Hong Kong Court of Appeal (Tang Ag CJHC and Andrew Cheung J; CACV225/2010) dismissed an appeal by the Plaintiffs of the refusal to stay. The Court was of the view that the order of Reyes J provided sufficient security protection for the Plaintiff when the case was under appeal. Further, it commented that so far, the Plaintiff had not shown a good prospect of success.
(KL 15 December 2010)

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