21 Jun 1994
Michael Eric Alexander Bos Mak v. Wocom Commodities Ltd. and Others
- Citation
- Michael Eric Alexander Bos Mak v. Wocom Commodities Ltd. and Others
- Court
- Court of First Instance
- Case number
- HCCL19/1991
On the facts and credibility findings the court held there was no stop/loss order given at the Sheraton; the $1.8020 "or better" limit was placed and subsequently cancelled by the plaintiff; the $1.8100 bid order placed at 14:50/14:51 was given with plaintiff's authorisation; the 1st Defendant acted as principal in spot foreign exchange and the plaintiff was aware of that trading arrangement; accordingly the plaintiff's claims (including rescission/secret profits) fail and the 1st Defendant succeeds on its counterclaim for the outstanding indebtedness and interest.