4 May 2018
INSPIRING INVESTMENTS LTD v. CHUN HU HING AND ANOTHER
- Citation
- [2018] HKCFI 925
- Court
- Court of First Instance
- Case number
- HCA2090/2014
Court held that Dexter and William undertook an obligation to assist (best endeavours) to sell the preferred shares by 31 December 2012 (not an absolute sale obligation); Dexter (1st defendant) had assumed the secondary obligation to purchase the shares at HK$6,666,500 if the first obligation failed, but William was not bound by that 2nd obligation; failure to fulfil the assistance obligation activated Dexter\'s 2nd obligation and Dexter\'s repudiation was accepted on service of writ (20 October 2014) leading to judgment against Dexter for HK$6,666,500 plus interest and costs; no separate dam…