10 Mar 2010
STANDARD CHARTERED BANK (HONG kONG) LTD v. SWEETMART GARMENT WORKS LTD AND OTHERS
- Citation
- STANDARD CHARTERED BANK (HONG kONG) LTD v. SWEETMART GARMENT WORKS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA1807/2005
The Guarantee was a continuing/all‑monies guarantee covering the ongoing banker/customer relationship; although the failure to procure release of the Belfran Road mortgage amounted to a material variation in substance, the Guarantee contained express provisions (notably clauses 5(a),(b) and (d)) that allowed the bank to vary credit, grant indulgences and deal with securities and thereby preserved the guarantor's liability; accordingly Holme v Brunskill did not discharge the 2nd defendant and judgment was entered for the plaintiff.