LAM SAU FA v. GOLDEN RICH FINANCE LTD

LAM SAU FA v. GOLDEN RICH FINANCE LTD

The court found Golden Rich established a prima facie case; Madam Lam's allegations were implausible and flatly rebutted by the Recording, Transcript and contemporaneous documents and did not raise any credible triable issues; statutory breaches of the MLO were either immaterial to enforceability or remediable by deduction of HK$13,000 under s27(4); accordingly summary judgment was appropriate and the originating summons granted with costs on an indemnity basis.

Citation
[2018] HKCFI 572
Parties
Plaintiff (mortgagee) in HCMP 84/2017 and Defendant in HCA 3248/2016: Golden Rich Finance Limited; Defendant in HCMP 84/2017 and Plaintiff in HCA 3248/2016: Madam Lam
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
21 March 2018
Case Number
HCA3248/2016
Procedural Posture
Mortgagee Action by Originating Summons and Related High Court Action / Substantive Hearing of Originating Summons for Summary Judgment; Consolidation Summons Contested
Outcome
Judgment entered for Golden Rich Finance Limited; originating summons in HCMP 84/2017 granted; consolidation summons (to consolidate with HCA 3248/2016) dismissed; summary judgment entered against Madam Lam.
Legal Topics
Summary Judgment, Enforceability of Legal Charge, Money Lenders Ordinance Breaches, Alleged Conspiracy/undue Influence, Costs (indemnity), Statutory Deduction Under MLO S27(4)
Source Language
EN
Mortgage Law Moneylenders Law Contract Law Equity Civil Procedure Summary Judgment Enforceability of Legal Charge Money Lenders Ordinance Breaches +3 more

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Parties

Golden Rich Finance Limited

Plaintiff (mortgagee) in HCMP 84/2017 and Defendant in HCA 3248/2016

Madam Lam

Defendant in HCMP 84/2017 and Plaintiff in HCA 3248/2016

Procedural Posture

Mortgagee Action by Originating Summons and Related High Court Action / Substantive Hearing of Originating Summons for Summary Judgment; Consolidation Summons Contested

Legal Issues

  1. 1 Whether the First Legal Charge is enforceable
  2. 2 Whether allegations of a syndicate/conspiracy vitiate the transaction
  3. 3 Whether breaches of the Money Lenders Ordinance (ss 7,18(2)(j),21,27) render the agreement unenforceable

Ratio Decidendi

The court found Golden Rich established a prima facie case; Madam Lam's allegations were implausible and flatly rebutted by the Recording, Transcript and contemporaneous documents and did not raise any credible triable issues; statutory breaches of the MLO were either immaterial to enforceability or remediable by deduction of HK$13,000 under s27(4); accordingly summary judgment was appropriate and the originating summons granted with costs on an indemnity basis.

Court Disposition

Judgment entered for Golden Rich Finance Limited; originating summons in HCMP 84/2017 granted; consolidation summons (to consolidate with HCA 3248/2016) dismissed; summary judgment entered against Madam Lam.

Orders

  • Judgment for Golden Rich Finance Limited for the reliefs claimed in the originating summons (payment of monies due under the First Legal Charge and delivery of vacant possession of the mortgaged property)
  • Summons to consolidate HCMP 84/2017 and HCA 3248/2016 dismissed