24 Mar 2001
KONEW FINANCE LTD v. TAM CHUEN ON AND ANOTHER
- Citation
- KONEW FINANCE LTD v. TAM CHUEN ON AND ANOTHER
- Court
- District Court
- Case number
- DCCJ1287/2001
The Loan Agreements were unenforceable: they purported to create charges over properties subject to the Housing Ordinance and were therefore void under s.17B, and in any event failed to comply with MLO s.18(1)-(2) by not setting out all terms (form of security and place of completion); the court refused to exercise its s.18(3) discretion to enforce any part of the agreements given unequal bargaining power, legal advice facilitating circumvention of the Housing Ordinance and factual inconsistencies.