24 Mar 2001
KONEW FINANCE LTD v. KOO KING HUNG LAWRENCE AND ANOTHER
- Citation
- KONEW FINANCE LTD v. KOO KING HUNG LAWRENCE AND ANOTHER
- Court
- District Court
- Case number
- DCCJ979/2001
The loan agreements were unenforceable because they purported to create charges over properties in breach of s.17B of the Housing Ordinance and failed to comply with s.18 of the Money Lenders Ordinance by not setting out all terms (notably accurate form of security and place of completion); the deposit of title deeds amounted to a purport to charge and rendered the agreements void and the court declined to exercise its discretion under s.18(3) to enforce any part of the agreements.