21 Dec 2020
LEI SHING HONG CREDIT LTD v. SAN TONG LEE CO LTD AND OTHERS
- Citation
- [2020] HKCFI 3119
- Court
- Court of First Instance
- Case number
- HCMP2525/2013
Although the Facility Letter and related documents breached provisions of the Money Lenders Ordinance (notably ss22 and presumptions under s25) and certain fees were deducted from principal, the court exercised its equitable discretion under ss22(2) and 18(3) to enforce the loan to the extent of the adjusted principal (HK$17,800,000) with interest at prime plus 1% p.a. from drawdown, treated excess early payments as principal repayments, and rejected defences of mental incapacity, non est factum and undue influence because defendants failed to discharge relevant burdens.