29 Feb 2000
ON HONG TRADING CO. LTD. v. BANK OF COMMUNICATIONS
- Citation
- ON HONG TRADING CO. LTD. v. BANK OF COMMUNICATIONS
- Court
- Court of First Instance
- Case number
- HCMP3099/1999
The mortgage was invalidly executed for want of the metallic common seal required by s93(1)(b) Companies Ordinance; therefore the defendant lacked the statutory/express power of sale and good title was not shown; a confirmatory mortgage/assignment executed after a subsequent second mortgage and a lis pendens could not be relied on to cure priority defects; plaintiff entitled to declarations and monetary relief including return of deposit and costs.