26 Mar 2021
DING HUIRONG v. CHINA TIMES SECURITIES LTD AND ANOTHER
- Citation
- [2021] HKCA 419
- Court
- Court of Appeal
- Case number
- CACV112/2020
The agreement, read as a whole, manifested a loan and security arrangement (promissory note obligations, interest provisions, pledge/Collateral Agency/Pledge Agreements, perfection and remedies on default); accordingly the equity of redemption applied and contractual provisions purporting to extinguish or waive the mortgagor's equitable right (eg clauses exempting lender from accounting for surplus/providing no right of redemption) were invalid as clogs; further, given the plaintiff's adoption of the Agreement and undertakings, the Court properly entertained the Order 14A issue; the Judge's d…