Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Mis-selling

  • 30 Jul 2018

    SHINNING INTERNATIONAL HOLDINGS LTD v. CITIBANK, N.A.

    Citation
    [2018] HKCFI 1737
    Court
    Court of First Instance
    Case number
    HCCL28/2013

    On the contractual and factual matrix the bank and its relationship manager did not assume a legal duty to advise beyond the explicit disclaimers in the MDA/RDS/TIPs; the disclosures were adequate as a matter of market practice and utility; no actionable or causative misrepresentation was made; the plaintiff’s causation case failed because the deceased principal was experienced and would have entered the trades regardless; guarantor termination was suspended and guarantees remained effective; claims dismissed.

  • 8 Aug 2016

    CHANG PUI YIN AND OTHERS v. BANK OF SINGAPORE LTD

    Citation
    CHANG PUI YIN AND OTHERS v. BANK OF SINGAPORE LTD
    Court
    Court of First Instance
    Case number
    HCCL12/2013

    The Services Agreement, read in its factual matrix and marketing materials, was properly construed to require the Bank to provide an advisory service for non‑discretionary accounts established on an advisory basis; consequently the Bank owed a contractual duty to exercise reasonable care and skill to ascertain clients' objectives and risk appetite, to recommend only products suitable to those objectives and to warn of material risks. The Bank breached that duty by selling and recommending high‑risk leveraged and currency products without adequate risk explanation and without regard to the pla…

  • 29 Aug 2013

    RIGHTBEST INTERNATIONAL LTD v. DBS BANK (HONG KONG) LTD

    Citation
    RIGHTBEST INTERNATIONAL LTD v. DBS BANK (HONG KONG) LTD
    Court
    Court of First Instance
    Case number
    HCA1099/2011

    Because the plaintiff filed late and materially overlapping amendments shortly before the hearing and failed to satisfactorily justify the lateness until the last moment, and because the new allegations are factually intertwined with existing pleadings making a separate strike‑out hearing inefficient and unfair, the court adjourned both the Strike Out and Amendment Summonses to be heard together, abridged service time for the Amendment Summons, set a timetable for affidavits and skeletons, and ordered indemnity costs to the defendant for costs thrown away by the adjournment (including the hea…

  • 31 Jul 2013

    SHUM KIN YEE v. DBS BANK HONG KONG LTD

    Citation
    SHUM KIN YEE v. DBS BANK HONG KONG LTD
    Court
    District Court
    Case number
    DCCJ1726/2011

    The court found no actionable misrepresentation or non-disclosure: the Note's lack of principal protection, first-to-default mechanics and possibility of total loss were adequately disclosed in the Pamphlet, Issue Prospectus and application forms; the plaintiff either read or was bound by those documents; reliance was not reasonably established and the loss was caused by unforeseeable market collapse (Lehman) rather than any conduct of DBSHK; contractual disclaimers and estoppel principles support dismissal of the claim.

  • 21 Jun 2012

    KWOK WAI HING SELINA v. HSBC PRIVATE BANK (SUISSE) SA

    Citation
    KWOK WAI HING SELINA v. HSBC PRIVATE BANK (SUISSE) SA
    Court
    Court of First Instance
    Case number
    HCCL7/2010

    The Account Opening Booklet and Risk Disclosure Statement established an execution-only relationship; HSBC did not assume the additional core duties alleged by the plaintiff and accordingly was not liable for the claimed breaches; even if liability existed damages must net the plaintiff's profits and losses on the structured products, producing approximately the defendant's figure.