18 Jan 2021
CHINA AGRI PRODUCTS EXCHANGE LTD v. WANG XIU QUN AND ANOTHER
- Citation
- [2021] HKCFI 137
- Court
- Court of First Instance
- Case number
- HCA1807/2011
The court held the SPAs were validly completed and MOFCOM approval remained effective; defendants were estopped from denying fulfilment of conditions precedent; expert evidence established substantial inflation in Management Accounts and plaintiff overpaid RMB 510,000,000 for 90% of BSZ; plaintiff entitled to set-off HK$54,211,000 under the profit guarantee against Wang's instrument; defendants' counterclaim for reversal/rescission dismissed; land-related breaches merited only nominal damages on the evidence; allegations that plaintiff instigated falsification were rejected; even on alternati…