14 Feb 2006
MAK KANG HOI v. HO YUK WAH DAVID
- Citation
- MAK KANG HOI v. HO YUK WAH DAVID
- Court
- Court of Appeal
- Case number
- CACV375/2004
The Court of Appeal upheld the trial judge's construction of the February 1997 letters as the written agreement: the defendant was obliged to repay the plaintiff an amount equivalent to the value of listed company shares proportionate to the plaintiff's investment (calculated by reference to the second tranche issue price), and the contract necessarily included an implied term that an IPO/listing would occur within a reasonable time; the defendant's inconsistent and implausible evidence justified rejecting his alternative characterisations, and the appeal was dismissed.