GE LI v. SUN MEI INDUSTRIAL LTD AND OTHERS

GE LI v. SUN MEI INDUSTRIAL LTD AND OTHERS

The court found repudiation occurred on 27 January 2010, accepted the defendants' expert valuation over the plaintiff's, assessed market value on that date at HKD 3,880,000, awarded the plaintiff the price difference of HKD 80,000, interest on the deposit at 4% for the period 27 January to 14 July 2010 (HKD 35,164.93), and conveyancing costs of HKD 7,000, totalling HKD 122,164.93; costs ordered to be paid by defendants on District Court scale to be taxed if not agreed.

Citation
GE LI v. SUN MEI INDUSTRIAL LTD AND OTHERS
Parties
Plaintiff: Plaintiff; Defendants: Defendants
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
5 March 2013
Case Number
HCA1009/2010
Procedural Posture
Breach of Contract (failure to Complete Sale Under Provisional Sale and Purchase Agreement) / Trial Judgment
Outcome
Judgment for plaintiff in the amount of HKD 122,164.93; costs nisi that defendants pay plaintiff's costs to be taxed on District Court scale if not agreed; interest at judgment rate until payment on judgment amount.
Legal Topics
Repudiation, Frustration (defence Conceded), Quantum of Damages, Mitigation, Interest on Deposit, Expert Witness Credibility, Injunction, Costs
Source Language
EN
Contract Property Civil Procedure Evidence (expert Evidence) Repudiation Frustration (defence Conceded) Quantum of Damages Mitigation +4 more

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Parties

Plaintiff

Plaintiff

Defendants

Defendants

Procedural Posture

Breach of Contract (failure to Complete Sale Under Provisional Sale and Purchase Agreement) / Trial Judgment

Legal Issues

  1. 1 Whether and when the defendants repudiated the provisional sale and purchase agreement
  2. 2 Proper valuation date and market value of the property for assessment of damages
  3. 3 Whether the plaintiff failed to mitigate her loss

Ratio Decidendi

The court found repudiation occurred on 27 January 2010, accepted the defendants' expert valuation over the plaintiff's, assessed market value on that date at HKD 3,880,000, awarded the plaintiff the price difference of HKD 80,000, interest on the deposit at 4% for the period 27 January to 14 July 2010 (HKD 35,164.93), and conveyancing costs of HKD 7,000, totalling HKD 122,164.93; costs ordered to be paid by defendants on District Court scale to be taxed if not agreed.

Court Disposition

Judgment for plaintiff in the amount of HKD 122,164.93; costs nisi that defendants pay plaintiff's costs to be taxed on District Court scale if not agreed; interest at judgment rate until payment on judgment amount.

Orders

  • Judgment entered for the plaintiff against the defendants in the amount of HKD 122,164.93
  • Interest on the deposit from 27 January 2010 to 14 July 2010 awarded at 4% (HKD 35,164.93)