Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Sale and purchase of shares

  • 17 Apr 2019

    HO WING HUNG v. INTELL MOTOR TRADING LTD

    Citation
    [2019] HKCFI 1013
    Court
    Court of First Instance
    Case number
    HCA183/2016

    The court accepted that the plaintiff paid the contract price and that the defendant failed to effect the transfer of the entire shareholding as required by the Sale and Purchase Agreement; the increase in nominal capital and allotment to a third party was not authorised by the Agreement and did not discharge the defendant's obligation to transfer, entitling the plaintiff to judgment and appropriate remedial orders.

  • 2 Jun 2015

    FIRST ASIA FINANCE LTD v. TSOI TIN KWAN FANNY

    Citation
    FIRST ASIA FINANCE LTD v. TSOI TIN KWAN FANNY
    Court
    Court of First Instance
    Case number
    HCA1070/2011

    Court found on the balance of probabilities that (a) Mr Kuthoor breached the warranties in the sale agreements and Vagas Lane proved loss totalling HK$940,099.26; (b) the alleged oral agreements (bonus shares and HK$10m payment) did not exist and the witnesses' evidence was disbelieved; (c) FA Finance proved the HK$7,000,000 was a loan advanced on condition of a signed loan agreement and, although no signed agreement existed, restitution on the basis of unjust enrichment (total failure of consideration and mistake) was available so FA Finance was entitled to recover HK$7,000,000 (fraud not es…

  • 2 Jun 2015

    VAGAS LANE LTD v. KUTHOOR SHANTY BERNARD

    Citation
    VAGAS LANE LTD v. KUTHOOR SHANTY BERNARD
    Court
    Court of First Instance
    Case number
    HCA1589/2011

    The court found on the balance of probabilities that (1) Vagas Lane proved breach of the contractual warranties by the vendor and is entitled to damages totaling HK$940,099.26 to reflect amounts paid to settle undisclosed liabilities; (2) the alleged oral side agreements (issuance of bonus shares or HK$10m payment) did not exist and evidence for them was not credible or corroborated; (3) FA Finance proved the HK$7m payment was an unsecured loan advanced on condition of a signed loan agreement which was not executed and therefore, on restitutionary grounds (total failure of consideration and m…