22 Oct 2003
BANK OF CHINA (HONG KONG) LTD v. FREE FORTUNE INVESTMENT LTD AND ANOTHER
- Citation
- BANK OF CHINA (HONG KONG) LTD v. FREE FORTUNE INVESTMENT LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA4808/2002
The defendants failed to establish a believable and arguable defence because the alleged oral agreement (or its asserted effect) was contradicted by contemporaneous facility letters and the Deed of Guarantee, the 2nd defendant's own letter admitting the bank's right to sue, and the parties' subsequent conduct including enforcement steps; therefore summary judgment in favour of the bank was properly affirmed and costs are payable on a full indemnity basis.