27 Nov 2024
QIAN FEIYI v. FIRST PRESTIGE INC AND OTHERS
- Citation
- [2024] HKCFI 3415
- Court
- Court of First Instance
- Case number
- HCA149/2024
The court dismissed the appeal and upheld summary judgment because the defendants failed to raise any credible triable issue. The formal Loan Agreement, multiple extension agreements, acknowledgements and contemporaneous communications consistently evidenced a genuine loan and guarantee. Allegations of a sham trust, non‑compliance with drawdown formalities, PRC exchange control concerns, or execution formalities were unsupported by specific or credible evidence and did not prevent enforcement; variations in drawdown were consensual and clause 8.3 did not absolve liability. Accordingly summary…