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

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

The court found the Plaintiffs had validly issued invoices (maintained as computer soft copies) and the Defendant failed to prove any oral waiver or that the 2005 settlement covered the eTrade charges; the parties' ongoing service relationship constituted a running account so limitation did not bar the claims;...

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
DCCJ2129/2007
Procedural Posture
Civil Action (district Court) / Judgment (after Trial)
Outcome
Judgment for plaintiffs; defendant's counterclaims dismissed
Legal Topics
Breach of Contract, Waiver, Running Account, Statute of Limitations, Repudiatory Breach, Damages, Counterclaim, Costs, Interest
Source Language
en
Contract Commercial Law Civil Procedure Limitation Breach of Contract Waiver Running Account Statute of Limitations +5 more

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Parties

ET NET LIMITED

1st Plaintiff

ET TRADE LIMITED

2nd Plaintiff

HANI SECURITIES (H.K.) LIMITED

Defendant

Procedural Posture

Civil Action (district Court) / Judgment (after Trial)

Legal Issues

  1. 1 Whether the Defendant owes outstanding sums for eTrade services
  2. 2 Whether alleged oral waivers or a 2005 settlement extinguished the Plaintiffs' claims
  3. 3 Whether the parties' dealings constituted a running account preventing limitation

Ratio Decidendi

The court found the Plaintiffs had validly issued invoices (maintained as computer soft copies) and the Defendant failed to prove any oral waiver or that the 2005 settlement covered the eTrade charges; the parties' ongoing service relationship constituted a running account so limitation did not bar the claims; accordingly the Defendant was liable to pay the eTrade and HV amounts (after a limited deduction) and all counterclaims were dismissed.

Court Disposition

Judgment for plaintiffs; defendant's counterclaims dismissed

Orders

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