4 Jun 1998
BOUYGUES S.A. and Another v. SHANGHAI LINKS EXECUTIVE COMMUNITY LTD.
- Citation
- BOUYGUES S.A. and Another v. SHANGHAI LINKS EXECUTIVE COMMUNITY LTD.
- Court
- Court of First Instance
- Case number
- HCA3259/1998
The letters from the Defendant's lawyers and the investors contained contractual promises of future conduct and were not mere letters of comfort, but the phrase 'the Contract Price' as used in those letters and the subscription agreement was construed to mean the sums payable to the Plaintiffs for performance under the construction contract (stage payments/advance and interim certificates) and did not extend to sums payable on termination (termination damages); accordingly the Plaintiffs had no trust or contractual security for the termination sums claimed and the claim was dismissed.