27 Mar 2002
JCG FINANCE CO. LTD. v. GROUP LIFE INVESTMENT LTD. AND ANOTHER
- Citation
- JCG FINANCE CO. LTD. v. GROUP LIFE INVESTMENT LTD. AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA2417/2001
The court found the 2nd Defendant had demonstrated an arguable defence because contemporaneous documents supported that the loan in the Deed was the same loan subject to prior arbitration and settlement with Beijing Jinlong and because the Assignment could properly be construed as creating a secondary guarantor liability; consequently a triable issue existed requiring trial. Accordingly leave to defend was granted and the specific condition requiring payment into court of HKD 8,000,000 was removed while other protective conditions remained.