19 Mar 2019
BANK OF CHINA (HONG KONG) LTD v. EDDY TECHNOLOGY CO LTD AND OTHERS
- Citation
- [2019] HKCA 339
- Court
- Court of Appeal
- Case number
- CACV184/2017
The default clause in the Letter revoked the conditional indulgence on breach but did not negate the exercise of the defendants' legal right of appropriation already effected under para 1(3); payments made pursuant to the Letter up to third quarter 2014 reduced principal accordingly; recalculation on that basis produced the substituted judgment sum of HKD 2,481,864.95; allegations of misrepresentation, breach of implied terms and unconscionability were rejected; reverting to pre-existing default interest on default was lawful and not a penalty in the circumstances.