6 Sept 2023
KING VICTORY INVESTMENT LTD v. CHAN HON WING AND ANOTHER
- Citation
- [2023] HKCFI 2292
- Court
- Court of First Instance
- Case number
- HCA1702/2022
The defendants failed to establish a real or bona fide defence: the alleged pre-contractual representation was unsupported, vague and contradicted by the written loan and supplemental agreements and the parties' conduct; the defendants did not provide necessary particulars and their case lacked credibility. Promissory estoppel was not made out. The MLO defence failed because the loan was connected to the joint venture and the plaintiff was an investment holding company, so the Schedule 1 Part 2 paragraph 5 exemption applied. Summary judgment was therefore properly entered for the plaintiff an…