15 Aug 2006
CHEONG SHING LTD v. YU KWAN
- Citation
- CHEONG SHING LTD v. YU KWAN
- Court
- Court of First Instance
- Case number
- HCA12021/1998
The court found on the balance of probabilities that the HK$38.76 million was advanced and received by D5 for the use of Mr Lo and Mr Kong (acting together) as a loan rather than as a concluded oral joint venture; KY001 and KY002 are insufficiently certain and in parts sham so their specific repayment/interest terms are not proved or enforced; plaintiffs are entitled to restitution of HK$28,260,000 (being the advance less prior repayments) with interest at 5% from 17 May 2001; Dr Lee was not proven to be a partner and counterclaims are dismissed.