17 Feb 2015
TOP SENSE INDUSTRIES LTD v. FULLY SHARP ENTERPRISES LTD
- Citation
- TOP SENSE INDUSTRIES LTD v. FULLY SHARP ENTERPRISES LTD
- Court
- Court of First Instance
- Case number
- HCA1361/2012
Clause 7 of the financing agreement imposed an obligation on the defendant to transfer not less than HK$29,000 per month to the plaintiff until full repayment; those payments were in the nature of interest; the defendant breached and wrongfully repudiated the financing agreement by failing to pay and to sell the land; the plaintiff validly accepted repudiation by issuing the writ and is entitled to a declaration of 50% of any surplus over HK$4.5 million as at 2 August 2012 and to HK$2,494,000 plus interest; tender of the principal alone did not discharge the defendant's obligations and the de…