ET NET LTD AND ANOTHER v. HANI SECURITIES (HK) LTD

ET NET LTD AND ANOTHER v. HANI SECURITIES (HK) LTD

The judge accepted the Plaintiffs' evidence that invoices had been issued (soft copies retained) and rejected the Defendant's assertions of oral waivers and a wider settlement; the dealings constituted a running account so limitation did not bar recovery; consequently the Defendant was liable for the eTrade charges...

Source-derived case information.

Citation
ET NET LTD AND ANOTHER v. HANI SECURITIES (HK) LTD
Parties
1st Plaintiff: ET NET LIMITED; 2nd Plaintiff: ET TRADE LIMITED; Defendant: HANI SECURITIES (H.K.) LIMITED
Court
District Court
Jurisdiction
Hong Kong
Judgment Date
24 June 2009
Case Number
DCCJ2117/2007
Procedural Posture
District Court Civil Action Contract Dispute / Final Judgment (handed Down 24 June 2009)
Outcome
Judgment for the Plaintiffs in part; Defendant ordered to pay Plaintiffs for eTrade and HV services; all Defendant counterclaims dismissed; costs awarded to Plaintiffs (to be taxed).
Legal Topics
Breach of Contract, Waiver, Running Account, Repudiation and Termination, Invoices and Account Reconciliation, Counterclaim for Overpayment and Damages
Source Language
en
Contract Commercial Law Limitation Breach of Contract Waiver Running Account Repudiation and Termination Invoices and Account Reconciliation +1 more

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Parties

ET NET LIMITED

1st Plaintiff

ET TRADE LIMITED

2nd Plaintiff

HANI SECURITIES (H.K.) LIMITED

Defendant

Procedural Posture

District Court Civil Action Contract Dispute / Final Judgment (handed Down 24 June 2009)

Legal Issues

  1. 1 Whether the Defendant was liable to pay the eTrade subscription and set-up fees claimed by the Plaintiffs
  2. 2 Whether alleged oral waivers or a 2005 settlement agreement extinguished the Defendant's liability
  3. 3 Whether the limitation period barred parts of the Plaintiffs' claims or whether a running account saved them

Ratio Decidendi

The judge accepted the Plaintiffs' evidence that invoices had been issued (soft copies retained) and rejected the Defendant's assertions of oral waivers and a wider settlement; the dealings constituted a running account so limitation did not bar recovery; consequently the Defendant was liable for the eTrade charges of HK$684,288 and for HV charges reduced to HK$67,131, and all Defendant counterclaims were dismissed.

Court Disposition

Judgment for the Plaintiffs in part; Defendant ordered to pay Plaintiffs for eTrade and HV services; all Defendant counterclaims dismissed; costs awarded to Plaintiffs (to be taxed).

Orders

  • Defendant to pay HK$67,131 to Plaintiffs in respect of the HV Service within 14 days with interest at judgment rate from 28.6.2007 until satisfaction.
  • Defendant to pay HK$684,288 to Plaintiffs in respect of the eTrade Service within 14 days with interest at judgment rate from 15.5.2007 until satisfaction.