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Hong Kong decisions
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The District Court held that the Heads of Agreement was binding and enforceable, dismissed the Defendant’s counterclaim, and ordered specific performance.
The Court of First Instance held that a debt waiver could not count toward the profit guarantee, found a shortfall and events of default, and rejected the put option claim.
The District Court held that no binding settlement was formed because the alleged offer was a mistaken fax, effectively revoked by telephone, and the stay was dismissed.
The District Court held that completion had been postponed by agreement, and the plaintiff could enforce the written sale agreement by specific performance.
The Court of Appeal upheld liability against EUT for failure to deliver a share certificate, but set aside MMG’s joint liability because it was not pleaded or proved as a party to the agreement.
The Court of First Instance held that Clause 4 let the purchaser, acting bona fide, elect to buy the property instead of the shares because of unacceptable risks.
The Court of Appeal held that Clause 5 of the settlement deed covered Group B’s entitlement to KK’s liquidation proceeds, including the Sum, and dismissed the appeal.
法院裁定未履行的回購令可構成可供《高等法院規則》第49B條執行的判決債，駁回上訴並維持盤問命令。
Affirmative appeal against striking out succeeded: the court held the claim on an auction sale was at least arguable and should not have been summarily dismissed.
The court struck out fraud claims against two vendors in a share-sale dispute, ordered discovery of a Deloitte report and related correspondence, and granted specific performance for the remaining shares.
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