8 Jul 2016
FWD LIFE INSURANCE CO (BERMUDA) LTD v. CHENG WING YIU DUMAS also known as CHENG WING YIU FREDDIE AND ANOTHER
- Citation
- FWD LIFE INSURANCE CO (BERMUDA) LTD v. CHENG WING YIU DUMAS also known as CHENG WING YIU FREDDIE AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCMP2365/2014
On the proper construction of the IAA Mr Cheng was deemed to have retired on 31 December 2013 and therefore retained his accrued entitlement to Long Service Bonus under the LSB rules; three of the disputed guaranteed advances did require prior written demand under their terms but certain guaranteed sums fell within clauses 2.01(iv) and 2.01(xi) of the all‑monies Legal Charge so that liability in respect of those guaranteed items arose under the mortgage without a separate prior demand, entitling FWD to recover HKD 1,525,180 on the disputed guarantees; FWD is entitled to an order for delivery…