11 Jan 2017
SO SAU LAI CONNIE t/a WING FUNG TRADING CO v. DBS BANK (HONG KONG) LTD
- Citation
- SO SAU LAI CONNIE t/a WING FUNG TRADING CO v. DBS BANK (HONG KONG) LTD
- Court
- Court of First Instance
- Case number
- HCA2807/2004
DBS did not owe an implied contractual or fiduciary duty to advise So/WF to require a COI; the issuing bank examined the presented documents and they were on their face compliant with the LC terms and UCP500; the fraud exception was not established by clear and obvious evidence; accordingly DBS was not in breach and was entitled to reimbursement and to enforce the trust receipt loan, mortgage and guarantee (So/WF, NH and Hui liable).