Formerank Ltd v Luo [2020] NSWSC 1641

Supreme Court New South Wales

Medium Neutral Citation: Formerank Ltd v Luo [2020] NSWSC 1641 Hearing dates: 10 November 2020; further written submissions 17 November 2020 Date of orders: 18 November 2020 Decision date: 18 November 2020 Jurisdiction: Equity - Commercial Arbitration List Before: Stevenson J Decision: Application for extension of freezing order refused; existing order to expire at 5.00 pm tomorrow Catchwords: CIVIL PROCEDURE – interim preservation – freezing order in relation to Australian assets of Hong Kong resident – in aid of prospective award and judgment in pending arbitration in Hong Kong – where interim measure made by consent in Hong Kong arbitration in relation to Hong Kong Assets – where preservation order made in PRC Court – whether good arguable case and sufficient prospects of obtaining judgment demonstrated – where respondent pleads detailed defence to applicant's case in the arbitration CIVIL PROCEDURE – interim preservation – freezing order in relation to Australian assets of Hong Kong resident – whether danger of dissipation of Australian assets COMMERCIAL ARBITRATION – international commercial arbitration – interim measures – UNCITRAL Model Law – concurrent jurisdiction of this Court with arbitral tribunal and supervisory court in lex arbitri – comity and deference to arbitral tribunal – whether Court should exercise concurrent jurisdiction to make a freezing order Legislation Cited: Arbitration Act 1996 (NZ) Arbitration Law of the People's Republic of China Arbitration Ordinance (Cap. 609) Civil Procedure Law of the People's Republic of China Foreign Judgments Act 1991 (Cth) Foreign Judgments Regulations 1992 (Cth) International Arbitration Act 1974 (Cth) UNCITRAL Model Law on International Commercial Arbitration 1985 Uniform Civil Procedure Rules 2005 (NSW) Cases Cited: 'Lady Muriel' v Transorient Shipping Ltd [1995] HKCA 615 (HK Ct App) Ansell v New Zealand Insurance Finance Ltd, HC Wellington A434/83 30 November 1983 Bhushan Steel v Severstal Export GmbH [2012] NSWSC 583 Borden Inc v Meiji Milk Products Co., 919 F.2d 822 (2d Cir. 1990) Channel Tunnel Group Ltd v Balfour Beatty Construction Ltd [1993] AC 334 Duro Felguera Australia Pty Ltd v Trans Global Projects Pty Ltd (in liq) [2018] WASC 136 Green Acres Franchise Group Ltd [2014] NZHC 402 Hancock Prospecting Pty Ltd v DFD Rhodes Pty Ltd [2020] WASCA New Zealand Association of Credit Unions v Finszoft Solutions (New Zealand) Ltd [2019] NZHC 3198 Ninemia Maritime Corp v Trave Schiffahrtsgesellschaft GmbH & Co KG (The Niedersachsen); [1983] 2 Lloyd's Rep 600 Re Lord Cable (Deceased) [1976] 3 All ER 417 Safe Kids in Daily Supervision Ltd v McNeill [2012] 1 NZLR 714 Severstal Export GmbH v Bhushan Steel Ltd (2013) 84 NSWLR 141; [2013] NSWCA 102 Transurban WGT Co Pty Ltd v CPB Contractors Pty Ltd [2020] VSC 476 Texts Cited: G Born, International Commercial Arbitration (2nd Ed, 2014, Kluwer Law International) Category: Procedural and other rulings Parties: Formerank Ltd (Plaintiff/Respondent) Tie Luo (Defendant/Applicant) Representation: Counsel: D Smallbone (Plaintiff/Respondent) J Redwood SC (Defendant/Applicant)