26 Oct 2018
LAU YU also known as JAFFE LAU v. THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD
- Citation
- [2018] HKCA 744
- Court
- Court of Appeal
- Case number
- CACV213/2017
The appeal was dismissed because the debtor failed to establish precise and clear evidence that the Bank refused to execute the second lien mortgage or otherwise caused the non-perfection; clause 7.9 placed the obligation to enter and register the Settlement Security on the GN Parties, not the Bank; the prevention principle did not apply as the debtor could not show the Bank had breached a contractual obligation owed to him that caused the non‑perfection; the debtor failed to raise a bona fide triable defence on substantial grounds; subrogation did not arise because the debt remained unpaid.