2 Apr 2004
CHINA UNITED HOLDINGS LTD AND ANOTHER v. JOHNSON STOKES & MASTER (A firm)
- Citation
- CHINA UNITED HOLDINGS LTD AND ANOTHER v. JOHNSON STOKES & MASTER (A firm)
- Court
- Court of First Instance
- Case number
- HCCL42/2003
The court held that as a matter of construction the counter indemnities created immediate enforceable indemnity claims by Asia Standard and Paul Y ITC against East Champion; the recitals did not incorporate the guarantees into the loan agreement nor create a tripartite contract making the borrower privy to clause 10; therefore the counter indemnities were not void or of no effect by reason of clause 10 and the plaintiffs' primary pleaded case that East Champion had no liability was false.