Matter
Indian Overseas Bank v Seabulk Systems Inc and Others (Hong Kong High Court HCA 846/2012)
- 25 May 2010China
25 May 2010China
Orders of the No 2 Intermediate People's Court in Shanghai dated 25 May 2010
No 2 Intermediate People's Court in Shanghai
- Decision summary
- The court issued four orders restraining Bank of China, Shanghai Branch from paying under the Advance Payment Guarantees, treating demands made by Seabulk Systems Inc through Indian Overseas Bank as fraudulent and non-compliant with the guarantees.
Supporting details
4 participantsZPMC
Indian Overseas Bank
Seabulk Systems Inc
Bank of China, Shanghai Branch
No 2 Intermediate People's Court in Shanghai
6 months and 4 days later · 188 days
- 29 November 2010Arbitration
29 November 2010Arbitration
Interim Award of the Quebec Arbitration Tribunal dated 29 November 2010
- Decision summary
- The Quebec Arbitration Tribunal awarded CAD 3,666,355.96 to Seabulk Systems Inc in the arbitration concerning the Quebec Contract.
Supporting details
2 participantsSeabulk Systems Inc
Quebec Stevedoring Co Ltd
1 year, 5 months and 23 days later · 540 days
- 22 May 2012China
22 May 2012China
Decisions of the Intermediate People's Court in Shanghai dated 22 May 2012
Intermediate People's Court in Shanghai
- Decision summary
- The court held that Bank of China, Shanghai Branch had confirmed Indian Overseas Bank as the new beneficiary entitled to demand payment under the Advance Payment Guarantees, but found the demand to be a manifest abuse or unfair calling and ordered the bank to cease payment.
Supporting details
4 participantsShanghai Zhenhua Port Machinery Co Ltd
Indian Overseas Bank
Seabulk Systems Inc
Bank of China, Shanghai Branch
Intermediate People's Court in Shanghai
1 year, 6 months and 7 days later · 556 days
- 29 November 2013China
29 November 2013China
Decisions of the Shanghai Higher People's Court dated 29 November 2013
Shanghai Higher People's Court
- Decision summary
- The court dismissed Indian Overseas Bank's appeals, holding that the Advance Payment Guarantees did not make the beneficiary's demand right assignable, the Assignment Agreements did not amend the guarantees, and Indian Overseas Bank was not the new beneficiary with capacity to demand payment.
Supporting details
4 participantsShanghai Zhenhua Port Machinery Co Ltd
Indian Overseas Bank
Seabulk Systems Inc
Bank of China, Shanghai Branch
Shanghai Higher People's Court
10 months later · 304 days
- 29 September 2014China
29 September 2014China
Decisions of the Supreme People's Court dated 29 September 2014
Supreme People's Court
- Decision summary
- The court dismissed Indian Overseas Bank's petition for retrial, upholding that Indian Overseas Bank was not the new beneficiary of the Advance Payment Guarantees and had no right to demand payment.
Supporting details
4 participantsShanghai Zhenhua Port Machinery Co Ltd
Indian Overseas Bank
Seabulk Systems Inc
Bank of China, Shanghai Branch
Supreme People's Court
3 years and 4 months later · 1218 days
- 29 January 2018Hong Kong
29 January 2018Hong Kong
Judgment of the High Court of the Hong Kong Special Administrative Region, Court of First Instance in the case HCA 846/2012 dated 29 January 2018
High Court of the Hong Kong Special Administrative Region, Court of First Instance
- Citation
- [2018] HKCFI 112
- Decision summary
- The court allowed only the amendment correcting the definition of the Shanghai proceedings and disallowed the other proposed pleading amendments. It entered judgment for Indian Overseas Bank for the amounts claimed, declared that the bank was entitled to be indemnified jointly and severally by the defendants for legal costs incurred in the Shanghai proceedings, dismissed the defendants' defence and counterclaim, and ordered the defendants to pay the plaintiff's costs subject to the order nisi becoming final after 21 days.
Supporting details
28 authorities · 12 participantsIndian Overseas Bank
- Representative
- Bianca Yu (For: Indian Overseas Bank)
- Representative
- Holman Fenwick Willan (For: Indian Overseas Bank)
Seabulk Systems Inc
- Representative
- Timothy Parker (For: Seabulk Systems Inc · Ramesh Vangal · Sidney Sridhar)
- Representative
- Weir & Associates (For: Seabulk Systems Inc · Ramesh Vangal · Sidney Sridhar)
Ramesh Vangal
- Representative
- Timothy Parker (For: Seabulk Systems Inc · Ramesh Vangal · Sidney Sridhar)
- Representative
- Weir & Associates (For: Seabulk Systems Inc · Ramesh Vangal · Sidney Sridhar)
Sidney Sridhar
- Representative
- Timothy Parker (For: Seabulk Systems Inc · Ramesh Vangal · Sidney Sridhar)
- Representative
- Weir & Associates (For: Seabulk Systems Inc · Ramesh Vangal · Sidney Sridhar)
High Court of the Hong Kong Special Administrative Region, Court of First Instance
- Judge
- Bebe Pui Ying Chu
Other
- Witness
- Venkata Subba Rao Kakarla
- Witness
- Ashok Choudhary
- Witness
- Zhou Jing
- Date not availableArbitration
Date not availableArbitration
Final Award of the Quebec Arbitration Tribunal in the Quebec Contract arbitration
- Decision summary
- The Quebec Arbitration Tribunal awarded Seabulk Systems Inc CAD 4,434,285 in the arbitration concerning the Quebec Contract.
Supporting details
2 participantsSeabulk Systems Inc
Quebec Stevedoring Co Ltd