26 Aug 2021
SIT KA MAN v. FIELD FINANCE LTD
- Citation
- [2021] HKDC 864
- Court
- District Court
- Case number
- DCCJ318/2019
On the balance of probabilities the court found tacit collusion between the intermediaries and the Plaintiff sufficient to engage s27(3)-(4); the sum of HK$1,442,000 paid to intermediaries was a remuneration/reward recoverable under s27(4) and was set off against the amount actually lent; the amount actually lent remained HK$1,692,000 after deducting HK$108,000 retained; contractual interest payable was HK$432,000 which did not include the defrauded sums and yielded an effective rate of c.25.53% so the loan was not extortionate under s25; Defendant entitled to set off HK$1,442,000 leaving jud…