11 Jun 2020
SOUTHWEST SECURITIES (HK) BROKERAGE LTD v. NIEUMARKT INVESTMENTS LTD AND OTHERS
- Citation
- [2020] HKCFI 1050
- Court
- Court of First Instance
- Case number
- HCA1200/2019
The court found the defendants' primary defence (an alleged collateral/oral agreement and 'hidden plan') was not reasonably capable of belief given absence from contemporaneous documents, delay in pleading, inconsistent conduct by defendants, and inherent implausibility; consequently there was no fair or reasonable probability of a real defence and summary judgment was appropriate; counterclaim dismissed; because mortgaged shares are under receivership the proper remedy is judgment for damages to be assessed rather than immediate payment of the full claimed sum.