28 Oct 2022
GOODWAY FINANCE LTD v. KWONG HONG WAI AND ANOTHER
- Citation
- [2022] HKDC 1204
- Court
- District Court
- Case number
- DCMP1193/2022
The court held that despite the omission of the form of security in s18(2)(h) the mortgage loan agreement and Second Legal Charge demonstrated sufficient security and the court should exercise its s18(3) discretion to treat the mortgage as enforceable; the plaintiff complied with statutory requirements otherwise and the 22% interest rate is lawful under the MLO; as a secured creditor the plaintiff could pursue a money judgment without joinder of the trustees; accordingly a money judgment for the claimed sums was entered against the 1st defendant.