30 Apr 1986
HARVESTER STOCK INVESTMENT CO v. KWAN SIU MAY
- Citation
- HARVESTER STOCK INVESTMENT CO v. KWAN SIU MAY
- Court
- Court of First Instance
- Case number
- HCA11515/1983
The Court found the transactions were stockbroking margin trading integral to the plaintiff's business and not a separate business of moneylending; entries characterized as 'loans' were incidental to margin trading and, even if loans, were made in the ordinary course of stockbroking and/or not intended as repayable advances in the moneylending sense; handling charges were fees for brokerage services not interest; consequently the Moneylenders Ordinance did not bar the plaintiff's recovery and judgment was entered for the plaintiff.