11 Apr 2003
KEEP POINT DEVELOPMENT LTD v. CHAN CHI YIM AND OTHERS
- Citation
- KEEP POINT DEVELOPMENT LTD v. CHAN CHI YIM AND OTHERS
- Court
- Court of Final Appeal
- Case number
- FACV10/2002
Yuen Sung & Co. breached their duty to advise and warn unit holders of the substantial risks in the option agreements; however the correct basis for assessing damages is the market value of the old units at the dates of assignment as evidenced by the agreed valuation tendered at trial (subject to additions for roof/decoration allowances, removal expenses, rental allowances, stamp duty and other proven losses and less receipts from Full Country); the Court set aside the Court of Appeal's broader valuation based on contractual/new unit benefits and affirmed entitlement to indemnity for reasonab…