26 Nov 1993
LEO LEE alias LEE HOK YUEN v. CHEONG OI SUM ADER
- Citation
- LEO LEE alias LEE HOK YUEN v. CHEONG OI SUM ADER
- Court
- District Court
- Case number
- DCCJ19219/1991
The transfer of the flat was part of a series of transactions connected to the March 1990 loan and therefore reopenable under s.25(1); having regard to the extreme effective rate of interest (216% p.a.) and the circumstances the court must do justice by requiring the plaintiff to indemnify the defendant, but the court will account for sums actually received by the defendant (eg. Rolex redemption) while refusing to give credit for the net loan amount of $75,665 on policy grounds; plaintiff ordered to pay $422,515.