LAM KI MING AND ANOTHER v. WONG CHI NANG AND ANOTHER

LAM KI MING AND ANOTHER v. WONG CHI NANG AND ANOTHER

On the balance of probabilities the plaintiffs voluntarily invested as taking a one‑seventh interest in Kai Yeung's project under the triparte agreement; the HK$500,000 paid to plaintiffs were loans repayable with interest; the defendants proved the project stalled through no fault of theirs; plaintiffs' claim for refund fails and is dismissed; judgment entered for defendants on their counterclaims for repayment of the HK$500,000 with interest and RMB1,142,857 with interest and costs.

Citation
LAM KI MING AND ANOTHER v. WONG CHI NANG AND ANOTHER
Parties
1st Plaintiff: Lam Ki Ming; 2nd Plaintiff: Chau Chi Ming; 1st Defendant: Wong Chi Nang; 2nd Defendant: Yeung Chi Hung
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
2 May 2000
Case Number
HCA2690/1996
Procedural Posture
Civil Investment/contract Dispute / Judgment (trial)
Outcome
Plaintiffs' claim dismissed; judgment entered for defendants on counterclaims
Legal Topics
Investment, Misrepresentation, Money Had and Received, Loan/repayment, Counterclaim, Contribution to Capital, Admissibility of Foreign Documents, Credibility Assessment
Source Language
EN
Contract Commercial Law Equity Civil Procedure Evidence Investment Misrepresentation Money Had and Received +5 more

Case Brief

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Parties

Lam Ki Ming

1st Plaintiff

Chau Chi Ming

2nd Plaintiff

Wong Chi Nang

1st Defendant

Yeung Chi Hung

2nd Defendant

Procedural Posture

Civil Investment/contract Dispute / Judgment (trial)

Legal Issues

  1. 1 Whether plaintiffs were entitled to unconditional refund of their HK$2,000,000 investment
  2. 2 Whether HK$500,000 paid to plaintiffs was a refund or a loan
  3. 3 Whether plaintiffs acquired a one‑seventh interest in Kai Yeung's project and thus liable for further capital contributions

Ratio Decidendi

On the balance of probabilities the plaintiffs voluntarily invested as taking a one‑seventh interest in Kai Yeung's project under the triparte agreement; the HK$500,000 paid to plaintiffs were loans repayable with interest; the defendants proved the project stalled through no fault of theirs; plaintiffs' claim for refund fails and is dismissed; judgment entered for defendants on their counterclaims for repayment of the HK$500,000 with interest and RMB1,142,857 with interest and costs.

Court Disposition

Plaintiffs' claim dismissed; judgment entered for defendants on counterclaims

Orders

  • Judgment for defendants: HK$400,000.00 with interest at six months fixed bank deposit rate from 19 July 1994
  • Judgment for defendants: HK$100,000.00 with interest at six months fixed bank deposit rate from 26 July 1994