10 Mar 2011
HONG JING CO LTD v. ZHUHAI KWOK YUEN INVESTMENT CO LTD
- Citation
- HONG JING CO LTD v. ZHUHAI KWOK YUEN INVESTMENT CO LTD
- Court
- Court of First Instance
- Case number
- HCA156/2006
The court held the MOU was governed by Hong Kong law; Clause 7 duties were triggered by payment of earnest money with asset proof treated as a concurrent rather than precedent condition; Plaintiff's bank reference constituted sufficient asset proof; exclusivity expired 30 November 2005; Defendant negotiated with See Good/Sei Pou during the exclusivity period and breached clauses 7.1 and 7.2; BOCGI did not change stance; Plaintiff did not waive rights by participating in the mainland auction; Defendant is liable for breach and may be treated as a constructive trustee for remedies to disgorge u…