19 Mar 2020
CHINA DING YI FENG HOLDINGS LTD v. HUANG QINGZHAN
- Citation
- [2020] HKCFI 484
- Court
- Court of First Instance
- Case number
- HCMP719/2019
The court held that the Company failed to pay the first Interest Payment on 31 March 2016 in the manner required by Conditions 4 and 5, that the default continued beyond the 5‑day cure period so a payment default under Condition 8(i) occurred and Huang was entitled to require early redemption (notice effective 16 August 2016; sums due 1 September 2016). Conversely, Clause 2.2 was a warranty given as at the subscription/completion period and did not survive beyond the Completion Date, so the 2019 SFC suspension did not breach Clause 2.2 and did not give rise to an event of default under Condit…