24 Mar 2014
張秀琼及另一人 v. 利星行信貸有限公司
- Citation
- 張秀琼及另一人 v. 利星行信貸有限公司
- Court
- Court of First Instance
- Case number
- HCMP2721/2012
The defendant did not breach its duty as mortgagee: it conducted two advertised public auctions with no bids, relied on contemporaneous professional valuations assessing market value at HK$12,000,000, and legitimately sold by private agreement thereafter; the plaintiffs failed to discharge the burden of proving the sale was improper or at a gross undervalue, so the originating summons is dismissed and costs are awarded against the plaintiffs.