Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Interest on interest

Legal area

Court

21 Jun 2023

MAXCOLM FINANCE LTD v. TONG LO MING AND OTHERS

Citation

[2023] HKDC 845
Court

District Court
Case number

DCMP955/2023

Plaintiff established entitlement to recover outstanding principal and interest (including permitted interest on interest under s22(1) proviso), and the Legal Charge conferred right to possession and sale; physical partition was impracticable so sale under Partition Ordinance s6(1) was appropriate; attempted later registration by a third party does not defeat the registered Legal Charge's priority; procedural requirements were satisfied; therefore monetary judgment, possession and order for sale and costs were granted.
2 Jun 1989

NAMYANG COMMERCIAL BANK LTD. v. CHAN HON WING t/a KAM WING (HONG KONG) TRADING CO. AND OTHERS

Citation

NAMYANG COMMERCIAL BANK LTD. v. CHAN HON WING t/a KAM WING (HONG KONG) TRADING CO. AND OTHERS
Court

Court of First Instance
Case number

HCMP103/1989

The appeal is allowed: the bank was entitled to appropriate part of the post-demand payment ($150,000) to satisfy interest (specifically $42,109.81) and, under the express mortgage provisions and common law appropriation rules, to charge interest on interest; the Master's contrary conclusion was unsupportable and his conflicting orders are varied or set aside; costs awarded to the plaintiff with appeal costs to the bank on ordinary basis and action costs to plaintiff taxed on full indemnity basis where contract provided.