1 Jul 1988
CHASE MANHATTAN (ASIA) LTD v. FIRST BANGKOK CITY FINANCE LTD
- Citation
- CHASE MANHATTAN (ASIA) LTD v. FIRST BANGKOK CITY FINANCE LTD
- Court
- Court of Appeal
- Case number
- CACV105/1987
The April 7, 1986 instrument, construed in light of its terms and surrounding commercial circumstances, operated as a true sale of a moiety of FBCF's interest in the SF10m loan with a contractual buy-back rather than as a registrable charge or mortgage; consequently the transaction was not void against the Official Receiver under s80 and the appeal on that issue is allowed; however, because the SF5m promissory note was not delivered and the assignment had determined by its own terms on 29 June 1986, CMA had no enforceable proprietary interest or entitlement to a declaration of trust or specif…