20 Dec 2023
BONDS GROUP COMPANY LTD v. KWAN DANIEL AND OTHERS
- Citation
- [2023] HKCA 1365
- Court
- Court of Appeal
- Case number
- CACV6/2023
The Court held the LOI was not a binding contract for the sale and purchase of the shareholding because essential terms and material documents remained to be agreed; the LOI was binding only as to the due diligence obligations; Clause 10b must be read to govern breaches of the due diligence part (not limited to Clause 10a alone); the Judge’s factual finding that the parties reached a settlement in the May 31 conversation was open to him and not plainly wrong; the plaintiff had not pleaded or relied upon damages calculated under Clause 10b at trial and could not raise it late, so only nominal…