4 Aug 2006
OWT ASIA LTD v. CPCNET HONG KONG LTD
- Citation
- OWT ASIA LTD v. CPCNET HONG KONG LTD
- Court
- Court of First Instance
- Case number
- HCA6436/2000
The court found the nine-month delay before issuing the writ was not exceptional but the later 16-month period of inactivity (circa Oct 2001–Feb 2003) constituted exceptional delay by the plaintiff; accordingly the court departed from accrual date and awarded pre-judgment interest from the date of issue of the writ (27 June 2000) to 23 December 2005. The plaintiff failed to prove it would have incurred higher borrowing costs, so the usual commercial rate of 1% over HSBC prime was applied; plaintiff ordered to pay defendant's costs of the defendant's written submission dated 6 February 2006.