12 Nov 2020
The petition was adjourned because the determinative issue—whether the subscription offers were accepted and therefore whether the payments constituted a debt or were recoverable in restitution—was unclear from the petition and statutory demand; the ambiguity and potential demurrer required further evidence rather than summary determination.
22 Oct 2019
The court held that the defence of non est factum is confined to narrow limits, will not succeed where the mistake relates to the legal effect of the document or where the signer failed to check documents signed in the course of business, and requires exceptional circumstances supported by very cogent evidence; absent such evidence the plea must be rejected.
13 Sept 2018
On the balance of probabilities the court found there was no April 2013 verbal agreement because the plaintiff's testimony was rejected as unreliable, there was no documentary support, and the commercial evidence did not support the plaintiff's version; accordingly the claim for specific performance was dismissed.
12 Nov 2004
The applicable letters created obligations contingent on a listing and were only workable if listing occurred; the court implied a term that listing occur within a reasonable time and alternatively held the contracts were frustrated by the failure of the contemplated IPO; accordingly defendant was liable to repay HK$32,000,000 and the defendant's counterclaim under s16 failed because expenses were not incurred in performance of the February agreements.
19 Nov 2001
The plaintiff failed to prove on the balance of probabilities the existence of the alleged collateral agreement or condition that the defendant would guarantee repayment of the $3,000,000 plus interest if a NASDAQ listing did not occur; accordingly the plaintiff's claim was dismissed. The defendant established that the $58,000 was refundable earnest money and the defendant succeeded on his counterclaim for that amount with interest.