31 May 2021
LUVPA LTD v. HONOR CITY HK PHARMACY LTD
- Citation
- [2021] HKLdT 40
- Court
- Lands Tribunal
- Case number
- LDPE1376/2020
Applying the Cavendish Square framework the Tribunal found the 2.5% per month default interest clause enforceable because it was not extravagant, exorbitant or unconscionable and protected a legitimate interest in timely payment; accordingly interest totaling HK$249,713.46 was awarded. The landlord could not recoup the HK$337,000 rental concession because the concession was promised and acted upon by the tenant and the landlord was estopped from imposing a retrospective condition; the claim to recover the concession and associated legal costs was dismissed.