24 Nov 2006
HONG KONG PROPERTY SERVICES (AGENCY) LTD. v. CHAN YUEN WA
- Citation
- HONG KONG PROPERTY SERVICES (AGENCY) LTD. v. CHAN YUEN WA
- Court
- District Court
- Case number
- DCCJ1648/2006
The court held the plaintiff was not in the business of making loans because the advance was incidental to its estate agency business, yielded no profit or interest and the plaintiff earned commission from the developer; therefore the plaintiff was not a 'money lender' under the MLO and could recover the balance. The court further found the advance would in any event qualify as an exempted transaction made in the ordinary course of the estate agency business, and exercised the s.23 discretion in the plaintiff's favour as allowing recovery was equitable.