14 Sept 2009
REGENT NATIONAL ENTERPRISES LTD v. GOLDLION PROPERTIES LTD AND OTHERS
- Citation
- REGENT NATIONAL ENTERPRISES LTD v. GOLDLION PROPERTIES LTD AND OTHERS
- Court
- Court of Final Appeal
- Case number
- FACV10/2008
The Court held the vendor had effectively invoked the force majeure clause and was entitled to return of the purchaser's deposit and related entitlements, but because the Waygood petition and the BVI injunction were discrete issues that added materially to length and cost the vendor's costs entitlement was reduced by 20%; accordingly the purchaser and its nominees were ordered to pay 80% of the vendor's costs here and below and the deposit was to be released to the purchaser subject to specified stakeholding and payment arrangements for the vendor's and intervener's costs.