1 Apr 2026
PREMIER CAPITAL MANAGEMENT LTD v. SO WANG FUNG AND ANOTHER
- Citation
- [2026] HKCA 601
- Court
- Court of Appeal
- Case number
- CACV167/2024
The court held the $180,000 withheld at drawdown should not be treated as additional 'deemed interest' for ERI calculation because it was applied to discharge contractual interest and including it would double count; the $333,417 charged by the intermediary was not 'actually lent' and, by reason of s27(3) and the deeming provision in s27(4), should be set off and the amount actually lent is thereby reduced to $371,583; using that reduced principal produces an ERI of 76.69% (>60%) making the Loan Agreement unenforceable under s24, so the High Court judgment for the plaintiff was set aside and…