24 Jan 2025
CHINA SUN FINANCE COMPANY LTD v. MORALITY INTERNATIONAL TRADING LTD AND OTHERS
- Citation
- [2025] HKCFI 344
- Court
- Court of First Instance
- Case number
- HCMP2131/2016
The Facility Letter’s Default Interest Provision contravened s22(1)(c) MLO, but on balancing all circumstances the court exercised its wide discretion under s22(2) to enforce the Loan Agreement insofar as recovery of the HK$48,000,000 principal and contractual interest at 12% p.a. was equitable because the lender never charged default interest, the borrower received and used the loan, no prejudice to borrower was shown, and denial would unjustly enrich the borrower.