24 Jan 2020
DBS BANK (HONG KONG) LTD v. PAN JING (潘昌)
- Citation
- [2020] HKCFI 268
- Court
- Court of First Instance
- Case number
- HCA3299/2016
The court found on the pleaded facts and expert evidence that the defendant's receipt of US$150,000 arose from an illegal underground foreign exchange transaction contrary to PRC exchange control provisions; that illegality prevents treating the defendant as a bona fide purchaser for value and similarly defeats a change of position defence; there was no credible triable issue that would require trial on the illegality point; accordingly summary judgment was entered for the bank for US$150,000 plus pre-judgment interest and costs on a nisi basis.