19 Oct 1989
CITIBANK N.A. v. KUNG KWOK-WAI DAVID
- Citation
- CITIBANK N.A. v. KUNG KWOK-WAI DAVID
- Court
- Court of Appeal
- Case number
- CACV81/1989
The Court affirmed liability: the July 15 taped conversation, objectively assessed in context, amounted to an instruction to buy and the defendant was liable for the Bank's actual loss of HK$300,000; the Bank failed to prove any agreement (express or adequately implied) entitling it to retain the discount as commission (HK$250,000), so that award was overturned; the trial judge's order for common fund costs was clearly wrong and replaced with party-and-party costs; the appellate court will not disturb the trial judge's factual finding on the tape absent a clear demonstration he was plainly wr…