27 Sept 2013
LIEU TSENG VAN v. ZHUHAI HOLDINGS INVESTMENT GROUP LTD
- Citation
- LIEU TSENG VAN v. ZHUHAI HOLDINGS INVESTMENT GROUP LTD
- Court
- Court of Appeal
- Case number
- CACV152/2012
The Court held that the parties waived the clause providing expiry on 31 December 2008 by their subsequent conduct and communications, so the Framework Agreement continued; appellants were not entitled to forfeit or retain the earnest money; JZD was entitled to demand return and to enforce the share charge and Loan Assignment and validly appointed receivers; the earnest money had been paid in HKD and must be repaid in HKD (HKD30,000,000) with interest; ancillary orders as to damages to be assessed and costs followed.