13 Sept 2024
TOP GEAR INVESTMENT LTD AND OTHERS v. PACM GROUP (HOLDINGS) LTD
- Citation
- [2024] HKCFI 2347
- Court
- Court of First Instance
- Case number
- HCA1999/2023
The Break Fee was a primary obligation under the Term Sheet and Deeds of Indemnity and therefore not a penalty; the factual complaints about newly imposed conditions and sabotage were not reasonably arguable on the evidence and the conditions (signed release, subordination) were within the parties' contemplation; challenged phrases were not part of the binding terms so uncertainty is irrelevant; accordingly summary judgment was appropriate for PACM on its HK$6.8m counterclaim and the plaintiffs' claim was struck out.