22 Nov 2011
UPPER LIKE INVESTMENTS LTD v. SINO-RANK INTERNATIONAL LTD
- Citation
- UPPER LIKE INVESTMENTS LTD v. SINO-RANK INTERNATIONAL LTD
- Court
- Court of First Instance
- Case number
- HCA17637/1999
Service at the company registered office complied with Companies Ordinance s356 and O.65 r.8 so the default judgment was regular; however the master correctly exercised his discretion to set aside the default judgment and discharge the charging order nisi because the defendant disclosed a defence with a real prospect of success — namely that the effective interest exceeded 60% p.a. rendering the loan unenforceable under Money Lenders Ordinance s24 — a matter unsupportedly rebutted by the plaintiff and appropriately remitted to trial for resolution.