22 May 2000
ABN AMRO BANK N.V. v. CHIYU BANKING CORPORATION LTD. AND OTHERS
- Citation
- ABN AMRO BANK N.V. v. CHIYU BANKING CORPORATION LTD. AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP2793/1999
On construction the debenture's charging clause did not encompass fixed deposits and bank balances because including them would be commercially unworkable given the restrictive covenant; alternatively, even if covered, neither Chiyu nor Wing Hang had actual, constructive or inferable notice of the restrictive or automatic crystallisation clauses and therefore their subsequently created equitable fixed charges and exercise of set-off prevailed (including under the rule in Dearle v Hall); accordingly ABN's claim failed.