16 Jun 2022
LAI YIU KEUNG v. KE JUN XIANG
- Citation
- [2022] HKCFI 1798
- Court
- Court of First Instance
- Case number
- HCA336/2019
Plaintiff failed to prove the alleged HKD 1,000,000 loan; both loan agreements were shams designed to disguise the true interest on a HKD 5,000,000 loan which was HKD 1,200,000 (effective rate exceeding the statutory limit); therefore the agreement was illegal under s24 MLO and unenforceable, warranting dismissal of the plaintiff's claim and an order for costs in favour of the defendant.