30 Jul 2007
UBS SECURITIES ASIA LTD v. MULTEC INTERNATIONAL HOLDINGS LTD
- Citation
- UBS SECURITIES ASIA LTD v. MULTEC INTERNATIONAL HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCA672/2007
The defendant had no credible triable defence on liability or quantum: contemporaneous communications established the defendant knew the shares were sold and was obliged to deliver; there was no unequivocal repudiation until defendant failed to deliver after the demand, fixing the breach date as 5 January 2007; the plaintiff acted reasonably in buying-in shares and mitigation was satisfied; accordingly summary judgment is appropriate.