Background:

• Ms. Wang initiated a debt collection case to recover $1 million plus interest from Mr. Feng and his associated entities.
• The debt's nature is disputed, raising questions about whether it was a loan or an equity investment, and if Mr. Feng personally guaranteed it.
• Ms. Wang alleged fraud, oppression, breach of fiduciary duty, negligent misrepresentation, breach of contract, and unjust enrichment.

Procedural History:

• Ms. Wang obtained a Mareva injunction freezing Mr. Feng's assets without notice.
• Mr. Feng filed a cross-motion to vacate the injunction, citing procedural errors and lack of justification for such an extraordinary remedy.

Key Issues:

1. Did Ms. Wang meet disclosure obligations when seeking the injunction without notice?
2. Did her case meet the criteria for a Mareva injunction?
3. Was pre-judgment execution and pre-discovery disclosure appropriate in this case?

Decision:

• Justice Perell vacated the injunctions, finding Ms. Wang failed to provide full disclosure.
• The judge ruled a Mareva injunction was not justified.
• The case was converted to a full action for proper pleadings, discovery, and trial.

Conclusion:

• The Court dismissed Ms. Wang’s motion and granted Mr. Feng’s cross-motion. The case will proceed as a regular civil action.

Successful Party:

• The successful party is Mr. Feng and the respondents, who succeeded in vacating the injunctions.

Monetary Award/Costs:

• No monetary damages were awarded. Costs are "in the cause," to be determined at the case's conclusion. The decision focused on procedural fairness and the appropriateness of the relief sought.