26 Jul 2005
NANYANG COMMERCIAL BANK LTD v. ALRIGHT FAR EAST LTD
- Citation
- NANYANG COMMERCIAL BANK LTD v. ALRIGHT FAR EAST LTD
- Court
- Court of First Instance
- Case number
- HCMP2623/2000
Because the plaintiff did not attend or adduce evidence, the defendant proved entitlement to recover the outstanding indebtedness under the Loan Agreement and Supplemental Agreement; the plaintiff had surrendered possession, the defendant lawfully sold the charged premises and applied proceeds, and contractual terms entitled the defendant to interest at 5.5% p.a. over prime and indemnity costs; judgment was therefore entered for the defendant for the quantified balance with continuing contractual interest and indemnity costs.