29 Jan 2007
GOLDLION PROPERTIES LTD AND OTHERS v. REGENT NATIONAL ENTERPRISES LTD
- Citation
- GOLDLION PROPERTIES LTD AND OTHERS v. REGENT NATIONAL ENTERPRISES LTD
- Court
- Court of First Instance
- Case number
- HCMP5273/2003
Clause 13.2 was properly construed as applying only where the vendor had knowledge of the matter relied upon and formed a reasonable opinion that it materially hindered, prevented or obstructed completion. The BVI application filed on 19 November 2003 was a matter beyond the vendor's reasonable control; the liquidator (whose opinion could be attributed to the company) reasonably and bona fide held the view, based on legal advice, that the application materially hindered completion; consequently the defendant validly invoked Clause 13.2 in relation to the BVI application and the plaintiffs are…