18 Aug 2015
PENTA INVESTMENT ADVISERS LTD v. ALLIED WELI DEVELOPMENT LTD (formerly known as HENNABUN CAPITAL GROUP LTD)
- Citation
- PENTA INVESTMENT ADVISERS LTD v. ALLIED WELI DEVELOPMENT LTD (formerly known as HENNABUN CAPITAL GROUP LTD)
- Court
- Court of Appeal
- Case number
- CACV35/2015
The Court held the Deed was binding on the defendant: Ms Liao, as permanent managing director, had actual authority under article 71C to execute the Deed and to authorize use of the common seal; the seal was affixed with company authority and the Deed conferred a commercial benefit to the defendant via its subsidiary Chung Nam such that the plaintiff was not put on inquiry; accordingly defendant liable for breach and damages assessed under clause 6 at HK$210,366,448.