TIAN YAO (XIAMEN) PROPERTY DEVELOPMENT CO LTD AND ANOTHER v. RIGHT MARGIN LTD

TIAN YAO (XIAMEN) PROPERTY DEVELOPMENT CO LTD AND ANOTHER v. RIGHT MARGIN LTD

The application for extension of time was dismissed because the 12 day delay was not excusable (misreading of rules by advisers is not sufficient) and the proposed appeal had no real prospect of success: the excess sales proceeds claim was a liquidated debt calculable by contract formula, the repayment obligation was properly construed as denominated in RMB, and no adverse inference could change those conclusions.

Citation
TIAN YAO (XIAMEN) PROPERTY DEVELOPMENT CO LTD AND ANOTHER v. RIGHT MARGIN LTD
Parties
Plaintiff / Respondent: Right Margin Ltd; 2nd Defendant / Applicant: Tian Yao (Xiamen) Property Development Co Ltd; 3rd Defendant / Applicant: Chan Shu Chun; 1st Defendant: Tian Liang Limited
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
18 February 2016
Case Number
HCMP2396/2015
Procedural Posture
Court of Appeal (high Court Miscellaneous Proceedings) / Application for Extension of Time to Appeal Against Refusal to Set Aside Default Judgment
Outcome
Application for extension of time to appeal dismissed
Legal Topics
Default Judgment, Setting Aside Judgment, Extension of Time to Appeal, Contract Construction, Currency Denomination, Costs
Source Language
EN
Civil Procedure Contract Commercial Law Appeals Default Judgment Setting Aside Judgment Extension of Time to Appeal Contract Construction +2 more

Case Brief

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Parties

Right Margin Ltd

Plaintiff / Respondent

Tian Yao (Xiamen) Property Development Co Ltd

2nd Defendant / Applicant

Chan Shu Chun

3rd Defendant / Applicant

Tian Liang Limited

1st Defendant

Procedural Posture

Court of Appeal (high Court Miscellaneous Proceedings) / Application for Extension of Time to Appeal Against Refusal to Set Aside Default Judgment

Legal Issues

  1. 1 Whether the 12 day delay in filing the appeal was excusable and time should be extended
  2. 2 Whether the default judgment was irregular because the claim for excess sales proceeds was unliquidated
  3. 3 Whether the repayment obligation under clauses 4.2 and 4.3 was denominated in RMB or HKD

Ratio Decidendi

The application for extension of time was dismissed because the 12 day delay was not excusable (misreading of rules by advisers is not sufficient) and the proposed appeal had no real prospect of success: the excess sales proceeds claim was a liquidated debt calculable by contract formula, the repayment obligation was properly construed as denominated in RMB, and no adverse inference could change those conclusions.

Court Disposition

Application for extension of time to appeal dismissed

Orders

  • Application dismissed
  • Tian Yao and Chan to pay Right Margin Ltd's costs assessed on a gross sum basis at HK$200,000