29 Jan 2018
INDIAN OVERSEAS BANK v. SEABULK SYSTEMS INC. AND OTHERS
- Citation
- [2018] HKCFI 112
- Court
- Court of First Instance
- Case number
- HCA846/2012
Court found plaintiff proved the loan and guarantors' liabilities; defendants failed to prove the pleaded pre-contractual misrepresentation or any advisory duty as pleaded; the APGs did not transfer the right to make demands because URDG 458 requires express assignment of claiming rights and the APGs lacked such express assignment; defendants caused delay and failed to assist in Shanghai proceedings; plaintiff acted reasonably and is therefore entitled to enforce loan and guarantees and to be indemnified for legal costs of the SH Proceedings under the personal guarantees and assignment-relate…