27 Dec 2017
LIMING CAPITAL LTD v. CLSA LTD
- Citation
- LIMING CAPITAL LTD v. CLSA LTD
- Court
- Court of First Instance
- Case number
- HCA2055/2008
The court found on the evidence that a verbal agreement of about 8 October 2007 existed providing for a 50% split; the defendant's late reduction to 40% in the 17 October 2007 written agreement was procured by illegitimate pressure amounting to economic duress in the circumstances and therefore that reduction was of no legal effect; the share payment variation used the placement price as the valuation basis and the defendant's obligation to transfer arose when it could effect transfer (found to be 13 December 2007); defendant's delayed delivery caused quantifiable loss and plaintiff entitled…