18 Aug 2023
THING ON CAPITAL LTD v. AN JINCHEN AND ANOTHER
- Citation
- [2023] HKCFI 2128
- Court
- Court of First Instance
- Case number
- HCMP1019/2019
The court found the defendants were explained the transactions in Mandarin and were bound by their signatures; the facility letters complied with s18 MLO and there was no prohibited term under s22; although unlawful deductions under s27 occurred, s27(4) affords repayment or set‑off rather than unenforceability; accordingly the loans were enforceable and judgment was entered for the plaintiff for the outstanding principals, accrued interest, costs and ancillary relief including possession and sale upon default.