PACIFIC ACE FINANCE LTD v. VILLASFER, ANDRENEE M. AND ANOTHER

PACIFIC ACE FINANCE LTD v. VILLASFER, ANDRENEE M. AND ANOTHER

The promissory notes and loan agreements were valid and enforceable; the plaintiff acted reasonably within the Licensing Conditions in attempting to locate and contact the borrower; the interest rates charged were lawful as simple fixed interest and did not exceed statutory caps; default interest is payable on overdue sums pursuant to s22 and must be computed as simple default interest from the date of default until payment; the defendants failed to prove forgery or unlawful debt collection; the counterclaim is dismissed; judgment entered for plaintiff for outstanding sums and costs with directions to ascertain precise outstanding amounts in accordance with the court's method.

Citation
[2025] HKDC 1161
Parties
Plaintiff in DCCJ 3298/2018 and DCCJ 3299/2018: Pacific Ace Finance Limited; 1st Defendant in DCCJ 3298/2018; 2nd Defendant in DCCJ 3299/2018: Delay, Gilda H.; 1st Defendant in DCCJ 3299/2018: Villasfer, Rosalina J.; 2nd Defendant in DCCJ 3298/2018: Villasfer, Andrenee M.
Court
District Court
Jurisdiction
Hong Kong
Judgment Date
10 July 2025
Case Number
DCCJ3299/2018
Procedural Posture
Money Lenders' Actions Under Order 83 A, Cap 336 H (recovery of Loan Principal and Interest) / Judgment After Trial (district Court)
Outcome
Judgment for plaintiff in both actions for outstanding sums as determined; counterclaim dismissed; costs awarded to plaintiff subject to summary assessment with specified directions.
Legal Topics
Enforceability of Promissory Notes, Default Interest and Calculation, Alleged Forgery, Licensing Conditions for Money Lenders, Unlawful Debt Collection Practices, Counterclaim for Damages, Costs and Summary Assessment
Source Language
EN
Contract Money Lenders Law Debt Collection Regulation Evidence (hearsay) Personal Data/privacy Enforceability of Promissory Notes Default Interest and Calculation Alleged Forgery +4 more

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Parties

Pacific Ace Finance Limited

Plaintiff in DCCJ 3298/2018 and DCCJ 3299/2018

Delay, Gilda H.

1st Defendant in DCCJ 3298/2018; 2nd Defendant in DCCJ 3299/2018

Villasfer, Rosalina J.

1st Defendant in DCCJ 3299/2018

Villasfer, Andrenee M.

2nd Defendant in DCCJ 3298/2018

Procedural Posture

Money Lenders' Actions Under Order 83 A, Cap 336 H (recovery of Loan Principal and Interest) / Judgment After Trial (district Court)

Legal Issues

  1. 1 Whether the loan agreements/promissory notes were forged and therefore unenforceable
  2. 2 Whether the lender breached Licensing Condition 10 by unlawful or harassing debt collection practices
  3. 3 Whether the effective interest rates exceeded statutory limits rendering the loans unenforceable

Ratio Decidendi

The promissory notes and loan agreements were valid and enforceable; the plaintiff acted reasonably within the Licensing Conditions in attempting to locate and contact the borrower; the interest rates charged were lawful as simple fixed interest and did not exceed statutory caps; default interest is payable on overdue sums pursuant to s22 and must be computed as simple default interest from the date of default until payment; the defendants failed to prove forgery or unlawful debt collection; the counterclaim is dismissed; judgment entered for plaintiff for outstanding sums and costs with directions to ascertain precise outstanding amounts in accordance with the court's method.

Court Disposition

Judgment for plaintiff in both actions for outstanding sums as determined; counterclaim dismissed; costs awarded to plaintiff subject to summary assessment with specified directions.

Orders

  • Judgment to be entered in DCCJ 3299/2018 against Villasfer, Rosalina J. and Delay, Gilda H. in favour of Pacific Ace Finance Limited for the outstanding sums as calculated pursuant to the court's rulings.
  • In DCCJ 3298/2018, after the outstanding amounts are ascertained in accordance with the court's rulings, judgment to be entered against Delay, Gilda H. and Villasfer, Andrenee M. in favour of Pacific Ace Finance Limited for those outstanding amounts.