DAH SING BANK LTD v. DYNASTY MANAGEMENT LTD AND OTHERS

DAH SING BANK LTD v. DYNASTY MANAGEMENT LTD AND OTHERS

The defendants' assertions that they did not receive the Notice of Sale and that the property was sold at undervalue were found not believable and unsupported by credible evidence (no independent expert valuation, no evidence of purchaser connection, and auctions/valuation supported sale). The statutory stay was properly lifted due to unjustified delay in legal aid application. There was no triable issue; summary judgment and orders below were therefore affirmed and appeal dismissed.

Citation
[2020] HKCFI 1695
Parties
Plaintiff: DAH SING BANK LIMITED; 1st Defendant: DYNASTY MANAGEMENT LIMITED; 2nd Defendant: CHAN WAI SUN; 3rd Defendant: CHAN CHEUNG NGAN PING
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
4 August 2020
Case Number
HCA2554/2018
Procedural Posture
Civil Appeal Against Summary Judgment / Hearing of Appeal (fresh Hearing)
Outcome
Appeal dismissed; summary judgment and orders below affirmed
Legal Topics
Summary Judgment, Power of Sale, Guarantee, Surrender of Property, Service of Notice, Sale at Undervalue, Legal Aid Stay, Costs
Source Language
EN
Civil Banking Property Contract Equity Debt Recovery Summary Judgment Power of Sale +6 more

Case Brief

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Parties

DAH SING BANK LIMITED

Plaintiff

DYNASTY MANAGEMENT LIMITED

1st Defendant

CHAN WAI SUN

2nd Defendant

CHAN CHEUNG NGAN PING

3rd Defendant

Procedural Posture

Civil Appeal Against Summary Judgment / Hearing of Appeal (fresh Hearing)

Legal Issues

  1. 1 Whether the defendants received the contractual notice of proposed sale
  2. 2 Whether the sale to Sky Rainbow was at undervalue or involved negligent exercise of power of sale
  3. 3 Whether the defendants raised an arguable defence to defeat summary judgment

Ratio Decidendi

The defendants' assertions that they did not receive the Notice of Sale and that the property was sold at undervalue were found not believable and unsupported by credible evidence (no independent expert valuation, no evidence of purchaser connection, and auctions/valuation supported sale). The statutory stay was properly lifted due to unjustified delay in legal aid application. There was no triable issue; summary judgment and orders below were therefore affirmed and appeal dismissed.

Court Disposition

Appeal dismissed; summary judgment and orders below affirmed

Orders

  • Appeal dismissed with costs
  • Summary judgment entered against the 1st to 3rd Defendants in the sum of HK$26,762,009.04 together with interest affirmed