29 Aug 2025
FUKU GROUP LIMITED formerly known as LIONSTAR GROUP LTD v. RAKICH INVESTMENTS LTD formerly known as COMPUTER DYNAMICS LTD AND OTHERS
- Citation
- [2025] HKCFI 3881
- Court
- Court of First Instance
- Case number
- HCA1888/2019
On the contemporaneous documents and emails and the parties' conduct the Agreement was for transfer of HSR shares; the representations that Fuku owned HSR were false; Steve and Vic knew (or were reckless) as to the falsity; Rakich relied on those representations and suffered losses and therefore validly elected rescission and is entitled to damages and repayment due under the loan note; consequently Fuku's claim is dismissed and Rakich's counterclaim succeeds with specified monetary and interest orders and costs.