NG CHUN CHIU v. YIP MAU LUK AND ANOTHER

NG CHUN CHIU v. YIP MAU LUK AND ANOTHER

The judge accepted the plaintiff's and attesting solicitor's evidence, the defendants offered no defence and did not attend, the promissory note was proved, and therefore judgment was entered for the plaintiff for the principal sum of $3.5 million; the first defendant was ordered to pay contractual interest at 2.5% per month from 1 September 1996 until judgment and thereafter at judgment rate, the second defendant was ordered to pay interest at judgment rate from 15 July 1998 until payment, and costs were ordered to be taxed and paid by the defendants.

Citation
NG CHUN CHIU v. YIP MAU LUK AND ANOTHER
Parties
Plaintiff: Ng Chun Chiu; 1st Defendant: Yip Mau Luk; 2nd Defendant: Chan Ka Man
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
20 June 2001
Case Number
HCA9936/1999
Procedural Posture
Action on Promissory Note (debt) / Judgment After Hearing
Outcome
Judgment for plaintiff against first and second defendants for $3,500,000
Legal Topics
Promissory Note, Contractual Interest, Default Judgment, Costs Taxation
Source Language
EN
Contract Debt Interest Civil Procedure Promissory Note Contractual Interest Default Judgment Costs Taxation

Case Brief

Summary, issues, holding and outcome

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Parties

Ng Chun Chiu

Plaintiff

Yip Mau Luk

1st Defendant

Chan Ka Man

2nd Defendant

Procedural Posture

Action on Promissory Note (debt) / Judgment After Hearing

Legal Issues

  1. 1 Whether the promissory note is enforceable and the defendants are liable for the principal sum of $3.5 million
  2. 2 Whether the plaintiff is entitled to contractual interest at 2.5% per month and the period from which that interest runs
  3. 3 Whether costs should be taxed and paid by the defendants

Ratio Decidendi

The judge accepted the plaintiff's and attesting solicitor's evidence, the defendants offered no defence and did not attend, the promissory note was proved, and therefore judgment was entered for the plaintiff for the principal sum of $3.5 million; the first defendant was ordered to pay contractual interest at 2.5% per month from 1 September 1996 until judgment and thereafter at judgment rate, the second defendant was ordered to pay interest at judgment rate from 15 July 1998 until payment, and costs were ordered to be taxed and paid by the defendants.

Court Disposition

Judgment for plaintiff against first and second defendants for $3,500,000

Orders

  • Judgment against the 1st and 2nd Defendants in the sum of $3,500,000.
  • 1st Defendant to pay interest on $3,500,000 at 2.5% per month from 1 September 1996 until today and thereafter at judgment rate until payment.