13 Oct 2023
PERFECT AWARD HOLDINGS LTD v. OUYANG YIDA AND OTHERS
- Citation
- [2023] HKCFI 2498
- Court
- Court of First Instance
- Case number
- HCA349/2018
The court construed clauses 5 and 6 of the Notes together to hold that presentment was effectively waived and that the Notes provided for payment at a fixed or determinable future time (therefore satisfying s.89 BEO); in the absence of evidence from defendants the factual defences (alleged advisory agreement, failure of consideration, misrepresentation, illegality) failed; judgment entered for plaintiff for RMB27,000,000 with compound interest at 18% p.a. from 28 February 2016 and costs on an indemnity basis; Mareva injunction continued for 18 months.