21 Jul 1986
HONG KONG SHANGHAI (SHIPPING) LTD v. THE OWNERS OF THE SHIP OF VESSEL "CAVALRY"(Panamanian Flag) AND ANOTHER
- Citation
- HONG KONG SHANGHAI (SHIPPING) LTD v. THE OWNERS OF THE SHIP OF VESSEL "CAVALRY"(Panamanian Flag) AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCAJ108/1986
The 7 October 1980 loan agreement was not a money‑lending contract within the ambit of the Money Lenders Ordinance 1911 because (1) HSS was not carrying on a money‑lending business in Hong Kong through WSS and the transactions (advances and repayments) occurred in New York/Bahamas, and (2) the proper law and closest connection of the contract were foreign (New York/Bahamas), so the 1911 Ordinance did not override the parties' chosen law; additionally HSS was an establishment/subsidiary of the Hong Kong & Shanghai Banking Corporation and within statutory exemption. Consequently the arrests wer…