27 Jan 2010
CHIU CHIT v. BANK OF CHINA (HONG KONG) LTD
- Citation
- CHIU CHIT v. BANK OF CHINA (HONG KONG) LTD
- Court
- District Court
- Case number
- DCCJ4041/2007
The claimed trading losses and loss of future profits were too remote because the bank lacked knowledge of the special purpose (high‑risk margin trading) and such losses were not within the reasonable contemplation of the parties; the bank's duty did not extend to protecting against speculative margin trading losses; contractually excluded indirect and consequential losses; accordingly plaintiff's primary damages claim and failed remittance charge were dismissed and only nominal interest was awarded subject to plaintiff's contributory responsibility.