29 Sept 2005
BANCA INTESA S.p.A. HONG KONG BRANCH v. FORWARD INDUSTRY LTD
- Citation
- BANCA INTESA S.p.A. HONG KONG BRANCH v. FORWARD INDUSTRY LTD
- Court
- Court of First Instance
- Case number
- HCA1222/2004
The court found the plaintiff had produced sufficient evidence of indebtedness (monthly statements, demand letters, acknowledgement and part payments), the defendant did not challenge the figures, the proposed HK$1.1M settlement was not performed and was revoked under its terms, and the security agreement allowed the bank to charge interest; accordingly the defendant had no defence and summary judgment was entered for the plaintiff. The guarantor's application to set aside the default judgment was dismissed for non-appearance.