7 Nov 2001
THE CHINA AND SOUTH SEA BANK LTD. v. KILOWORLD LTD. AND ANOTHER
- Citation
- THE CHINA AND SOUTH SEA BANK LTD. v. KILOWORLD LTD. AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA10672/2000
The judge found the defence that two oral agreements suspended or varied the defendants' written loan obligations to be incredible on the basis of inconsistency with contemporaneous loan documents and acknowledgements, inherent commercial implausibility, lack of any written record for important terms (notably the 75% purchase term), and shifting versions by the defendants; accordingly there was no real or bona fide defence and the appeal was dismissed.