2 Apr 2015
DBS BANK (HONG KONG) LTD v. SIT PAN JIT
- Citation
- DBS BANK (HONG KONG) LTD v. SIT PAN JIT
- Court
- Court of First Instance
- Case number
- HCA382/2009
The written Banking Documents (Account Opening Form, Master Agreement and successive Facilities Letters) constituted the governing contract giving DBS an execution-only relationship; Sit did not prove the alleged misrepresentations induced the ELN purchases; contractual estoppel arising from the agreed basis clauses prevented Sit relying on alleged oral inducement; DBS lawfully enforced margin/top-up and sale rights and proved the indebtedness; judgment entered for plaintiff for US$3,429,724.27 with interest and costs; counterclaim dismissed.