23 Jan 2003
DAO HENG BANK LTD. v. NEW FAITH DEVELOPMENT LTD. AND ANOTHER
- Citation
- DAO HENG BANK LTD. v. NEW FAITH DEVELOPMENT LTD. AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCMP1722/2002
The court found the Plaintiff's documentary evidence and affirmations established the 2nd Defendant's liability under the Continuing Guarantee and that the 2nd Defendant failed to raise a credible triable issue (his oral release allegation and clerical mistake claim were bald and unconvincing). The continuing guarantee imposed an independent liability which was not discharged by reductions in the facility limits absent an express release. Accordingly judgment was properly entered against the 2nd Defendant and the Master's order was upheld.