28 Jul 2015
CHARMWAY HONG KONG INVESTMENT LTD AND OTHERS v. FORTUNESEA (CAYMAN) LTD AND OTHERS
- Citation
- CHARMWAY HONG KONG INVESTMENT LTD AND OTHERS v. FORTUNESEA (CAYMAN) LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP3234/2013
The Facility Agreement created an aggregated unitary loan and, read with the Intercreditor Agreement and the role of the Administrative and Security Agents, did not give individual Lenders an express right to independently enforce repayment of their proportionate shares; therefore enforcement decisions rest with the Majority Lenders acting in good faith (and through agents where provided) and the Court grants the Majority Lenders' declaratory and injunctive relief accordingly.