20 Sept 2024
LEI SHING HONG CREDIT LTD v. LAM MEI YEE AND ANOTHER
- Citation
- [2024] HKCFI 2563
- Court
- Court of First Instance
- Case number
- HCMP213/2023
The breaches of MLO s18(2)(i) and s27(1) were established but were minor/technical and remedied by agreed deductions; the Service Charge did not constitute compound interest nor an unlawful increase on default and therefore did not breach s22(1); applying the discretionary tests in Easy Fortune/Emperor Finance/Strong Offer, it was equitable to enforce the loans and securities subject to modification limiting recoverable interest to 8% p.a. for HCMP213 and HCMP888 and 9% p.a. for HCMP903; accordingly the appeals were dismissed and the Masters' orders upheld subject to recalculation and variati…