Hong Kong Case Law

26 Jul 2005

ALRIGHT FAR EAST LTD v. NANYANG COMMERCIAL BANK LTD

Citation

ALRIGHT FAR EAST LTD v. NANYANG COMMERCIAL BANK LTD

Court

Court of First Instance

Case number

HCA5310/2000

The plaintiff failed to adduce any evidence and had surrendered possession of the charged floors; the defendant lawfully sold the charged property and produced evidence of the sale, the application of proceeds and account entries; under the contractual terms the outstanding principal, accrued interest at 5.5% p.a. over prime and contractual indemnity costs are recoverable, therefore judgment for the defendant on its counterclaim was entered for the outstanding sum and costs on an indemnity basis.

• Sale by chargee
• Surrender of possession
• Counterclaim for debt
• Interest calculation
• Costs on indemnity basis

10 Oct 2002

LAM SHING TUNG v. THE DAIWA BANK LTD.

Citation

LAM SHING TUNG v. THE DAIWA BANK LTD.

Court

Court of First Instance

Case number

HCA8599/1999

The court accepted the Bank's evidence and rejected the plaintiff's account as not credible, found the plaintiff authorised the transfers (or acquiesced in them), and that he failed to notify the Bank in a timely manner; promissory estoppel need not be considered; therefore the Bank's counterclaim for indebtedness and vacant possession succeeds and judgment is entered for the Bank.

• Unauthorised transfers
• Promissory estoppel
• Notice/waiver under legal charge
• Counterclaim for debt
• Vacant possession
• Evidence and witness credibility

21 Jun 1994

Michael Eric Alexander Bos Mak v. Wocom Commodities Ltd. and Others

Citation

Michael Eric Alexander Bos Mak v. Wocom Commodities Ltd. and Others

Court

Court of First Instance

Case number

HCCL19/1991

On the facts and credibility findings the court held there was no stop/loss order given at the Sheraton; the $1.8020 "or better" limit was placed and subsequently cancelled by the plaintiff; the $1.8100 bid order placed at 14:50/14:51 was given with plaintiff's authorisation; the 1st Defendant acted as principal in spot foreign exchange and the plaintiff was aware of that trading arrangement; accordingly the plaintiff's claims (including rescission/secret profits) fail and the 1st Defendant succeeds on its counterclaim for the outstanding indebtedness and interest.

• Foreign exchange trading
• Stop-loss orders
• Undisclosed principal
• Rescission
• Counterclaim for debt
• Telephone transcript evidence

KARL WIDENMANN v. BANQUE DE L\' INDOCHINE

Citation

KARL WIDENMANN v. BANQUE DE L\' INDOCHINE

Court

Court of First Instance

Case number

HCA1514/1972

The court found the Swiss Credit Bank was defendant's sub‑agent and negligent in failing to advise non‑payment, but the plaintiff's signed application contained an exemption clause broad enough to absolve the defendant from liability for acts or omissions of its correspondent/sub‑agent including negligence; accordingly defendant was not liable and its counterclaim for the outstanding debt succeeded.

• Breach of contract
• Negligence
• Vicarious/sub-agent liability
• Exemption clause interpretation
• Estoppel
• Counterclaim for debt