20 Sept 2024
LEI SHING HONG CREDIT LTD v. CHEN CHUNG CHENG AND OTHERS
- Citation
- [2024] HKCFI 2563
- Court
- Court of First Instance
- Case number
- HCMP903/2023
Breaches of s18(2)(i) and s27 were accepted but were minor/technical and did not prejudice borrowers; the Service Charge clause did not amount to compound interest and therefore did not breach s22; exercising the statutory discretion it was equitable to enforce the three loans and related legal charges but with adjustment that interest recoverable is limited to 8% per annum for HCMP 213 and HCMP 888 and 9% per annum for HCMP 903, and illegal legal costs are to be deducted; appeals were dismissed subject to recalculation of sums and specified procedural directions.