WIN WAVE INDUSTRIAL LTD v. GOSBON INDUSTRIES LTD AND OTHERS

WIN WAVE INDUSTRIAL LTD v. GOSBON INDUSTRIES LTD AND OTHERS

Leave to appeal was granted because the intended appeals had a more than reasonable prospect of success; Gosbon's out-of-time application was allowed on the basis of merits; the order was found to be problematic insofar as it effectively awarded both return of the initial deposit and damages, and the matter of apportionment/indemnity between Gosbon and the estate agents warranted appeal; a partial stay of execution was granted against Gosbon to the extent of HKD 500,000.

Citation
WIN WAVE INDUSTRIAL LTD v. GOSBON INDUSTRIES LTD AND OTHERS
Parties
Plaintiff: Win Wave Industrial Limited; 1st Defendant: Gosbon Industries Limited; 2nd Defendant: Centaline Property Agency Limited; 3rd Defendant: Chung Mei Wah; 4th Defendant: Lai Yiu Kai Alan
Court
District Court
Jurisdiction
Hong Kong
Judgment Date
17 June 2009
Case Number
DCCJ209/2007
Procedural Posture
Civil Action / Post Judgment Application for Leave to Appeal (including Out of Time) and Stay of Execution
Outcome
Leave to appeal granted to the defendants; Gosbon's out-of-time application allowed; partial stay of execution granted against Gosbon for HKD 500,000; appeals permitted to proceed.
Legal Topics
Rescission, Return of Deposit, Damages, Indemnity, Apportionment, Stay of Execution, Leave to Appeal Out of Time, Costs
Source Language
EN
Contract Misrepresentation Agency Professional Negligence Civil Procedure Rescission Return of Deposit Damages +5 more

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Parties

Win Wave Industrial Limited

Plaintiff

Gosbon Industries Limited

1st Defendant

Centaline Property Agency Limited

2nd Defendant

Chung Mei Wah

3rd Defendant

Lai Yiu Kai Alan

4th Defendant

Procedural Posture

Civil Action / Post Judgment Application for Leave to Appeal (including Out of Time) and Stay of Execution

Legal Issues

  1. 1 Whether defendants should be granted leave to appeal including out-of-time application by Gosbon
  2. 2 Whether the trial court's order awarding both return of deposit and damages was problematic
  3. 3 Proper remedy following rescission: return of deposit or damages in lieu

Ratio Decidendi

Leave to appeal was granted because the intended appeals had a more than reasonable prospect of success; Gosbon's out-of-time application was allowed on the basis of merits; the order was found to be problematic insofar as it effectively awarded both return of the initial deposit and damages, and the matter of apportionment/indemnity between Gosbon and the estate agents warranted appeal; a partial stay of execution was granted against Gosbon to the extent of HKD 500,000.

Court Disposition

Leave to appeal granted to the defendants; Gosbon's out-of-time application allowed; partial stay of execution granted against Gosbon for HKD 500,000; appeals permitted to proceed.

Orders

  • Declaration that Win Wave was entitled to rescind and has validly rescinded the provisional agreement and is entitled to return of the initial deposit of HK$500,000
  • Judgment against the four Defendants for damages in the sum of HK$505,060 and interest at the judgment rate from the date of writ until payment