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Hong Kong decisions
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The court granted a conditional stay of execution pending appeal, requiring payment of the judgment sums and pre-judgment interest into court within 21 days.
The Court of First Instance held that the defendant signed two guarantees securing loans to SMI/Sing Pao and ordered judgment for principal, interest, default interest and costs.
The Court of Appeal dismissed a summary judgment appeal over a HK$60 million loan, interest and a balance payment, holding the 2021 Deed was enforceable and no triable issue arose.
The Court of Appeal dismissed both defendants’ appeals in a HK$20 million loan dispute, upholding findings that the oral loan, Loan Note and Loan Agreement were enforceable.
The court held that two directors had actual authority under the company’s articles to issue the bond, and that the bond transaction was supported by consideration.
Court found on the balance of probabilities a common intention that the plaintiff alone should have beneficial ownership; plaintiff paid and bore all purchase and upkeep costs and detrimentally relied on assurances; therefore a constructive trust arises in favour of the plaintiff and the defendant holds only as a constructive trustee; the 2000 agreement was either non‑existent or procured by duress and/or time‑barred so the defendant’s counterclaim is dismissed.
Source excerpt
The court held the MOU binding, rejected misrepresentation and consideration defenses, awarded the 1st and 2nd Plaintiffs damages, and dismissed the 3rd Plaintiff’s claim.
The court found an oral settlement was made in September 2019, held there was good consideration, rejected the defendant’s denial, and entered judgment for the plaintiff.
The Court of Appeal granted leave to appeal in part in a dispute over HK$998,000 earnest money, finding some issues about a provisional agreement arguable.
The District Court held that Supplement A required a full refund if the artwork was not sold within 12 months, and awarded the plaintiff HK$185,000 plus interest and costs.
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