8 Jan 2016
LO YUK SUI v. FUBON BANK (HONG KONG) LTD formerly known as INTERNATIONAL BANK OF ASIA LTD
- Citation
- LO YUK SUI v. FUBON BANK (HONG KONG) LTD formerly known as INTERNATIONAL BANK OF ASIA LTD
- Court
- Court of First Instance
- Case number
- HCA409/2005
The Letter and Guarantee formed a legally binding bundled agreement; Clause 1 must be construed to mean the Bank was obliged to elect Option 1 if the formal documentation implementing the DRP contained Option 1 and was satisfactory as to the formal documentation itself; the Bank did not demonstrate bona fide dissatisfaction with the formal documentation and elected the Additional Option for commercial reasons which did not excuse breach; no implied term required equal treatment nor a condition that the Letter would lapse after a reasonable time; damages are to be assessed by valuation of the…