18 Oct 2024
CHINA HEALTH GROUP LTD v. LI ZHONG YUAN AND OTHERS
- Citation
- [2024] HKCA 927
- Court
- Court of Appeal
- Case number
- CACV20/2024
The promissory note mechanism did not extinguish the underlying contractual debt; Capital Foresight was entitled to recover the agreed sum of US$4,000,000 as a debt, but specific performance to order issuance of a promissory note was refused because (1) monetary relief was adequate and (2) a promissory note had in fact been issued (the Loan Note), so there was no failure to perform; damages in lieu were inappropriate for jurisdictional and quantification reasons; leave to amend to plead a direct claim in debt for US$4,000,000 was granted and judgment entered for that sum; no interest awarded…