1 Nov 2016
CANTAB INTERNATIONAL LTD AND OTHERS v. LUK NGAI LING IRENE AND OTHERS
- Citation
- CANTAB INTERNATIONAL LTD AND OTHERS v. LUK NGAI LING IRENE AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA1022/2012
The clause 2(2 obligation to provide an 'updated Audit Report' was a condition precedent to payment of the balance and required a report updated to the date of the agreement or as near as reasonably possible; the defendants failed to provide an appropriately updated report and unlawfully withdrew resignation/nomination letters under clause 5, amounting to fundamental breaches and repudiation of the contract by the defendants; plaintiffs were entitled to terminate the contract and recover the deposit and consequential losses; judgment awarded to plaintiffs and counterclaim dismissed.