Arbitration analysis: The Hong Kong Court of First Instance has discharged a Mareva injunction (known as a freezing order in England & Wales and elsewhere) which had been granted ex parte in support of London arbitration proceedings. The decision is of interest to practitioners as it illustrates the high threshold an applicant must surmount when demonstrating a real risk of dissipation based on an allegation of unacceptably low morality on the part of the defendant. The court also made some observations of the applicant’s claim for its costs in the intended arbitration as part of the injunction.
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There may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the shoes of one of the original parties. This is
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