Hong Kong Case Law: Decisions & Judgments

Topic

Collateral/guarantee agreements

Legal area

Court

28 May 2013

HUEN WAI KEI AND ANOTHER v. CHOY KWONG WA CHRISTOPHER AND ANOTHER

Citation

HUEN WAI KEI AND ANOTHER v. CHOY KWONG WA CHRISTOPHER AND ANOTHER
Court

Court of First Instance
Case number

HCA1242/2006

The court found no credible evidence that plaintiffs made the alleged representations about withdrawal of the Form 5 or guaranteed reinstatement of Choy as Responsible Officer, no oral cancellation of the Shares Agreement occurred, and the Shares Agreement remained binding. The Memorandum, Supplemental Agreement and S&P were correctly construed as security/guarantee for Choy's liability. Defendants were liable for the dishonour of the post-dated cheques (HK$30,000,000) and, alternatively, Raking must specifically perform by assigning the Properties to China Gain with the agreed consideration…
28 May 2013

HUEN WAI KEI v. CHOY KWONG WA CHRISTOPHER

Citation

HUEN WAI KEI v. CHOY KWONG WA CHRISTOPHER
Court

Court of First Instance
Case number

HCA2140/2006

Credibility and documentary evidence established there were no representations by plaintiffs that Choy would be reinstated as RO, no valid cancellation of the Shares Agreement, and that the Security & Set-Off documentation evidenced agreement to use the Properties as security. The Shares Agreement was therefore enforceable; the three post-dated cheques were properly the defendants' liability and dishonoured, giving rise to a judgment debt of HK$30,000,000 with interest; alternatively specific performance against Raking to assign the Properties to China Gain with set-off of HK$38,400,000 was a…

Hong Kong Case Law

HUEN WAI KEI AND ANOTHER v. CHOY KWONG WA CHRISTOPHER AND ANOTHER

HUEN WAI KEI v. CHOY KWONG WA CHRISTOPHER