19 Mar 2020
HUANG QINGZHAN v. CHINA DING YI FENG HOLDINGS LTD
- Citation
- [2020] HKCFI 484
- Court
- Court of First Instance
- Case number
- HCMP1102/2019
The court held that the issuer failed to pay the first interest on 31 March 2016 in the manner required (transfer to registered account or mailed cheque to registered address), the default continued beyond the 5‑day cure period and thus constituted a payment default under Condition 8(i) entitling the noteholder to require early redemption (notice served 16 August 2016); conversely, the 2019 suspension did not breach Clause 2.2 because that warranty was given as at agreement/completion and did not survive beyond Completion, so suspension was not an event of default under Condition 8(iii).