Hong Kong Case Law: Decisions & Judgments

Topic

Interest rate dispute

Legal area

Court

8 Jul 2009

HONG KONG FINANCE CO LTD v. SO DAH WAI JOHN AND ANOTHER

Citation

HONG KONG FINANCE CO LTD v. SO DAH WAI JOHN AND ANOTHER
Court

Court of First Instance
Case number

HCA614/2007

The claimed defects (interest rate and early repayment provisions) do not present an arguable appeal—interest challenges lack merit and any early repayment non-compliance makes only that provision unenforceable not the agreement illegal—therefore no stay of execution should be granted and the application is dismissed.
16 Feb 2007

LAW CHI LEUNG, DONNY AND ANOTHER v. CHAU CHIU NUNG

Citation

LAW CHI LEUNG, DONNY AND ANOTHER v. CHAU CHIU NUNG
Court

District Court
Case number

DCCJ3666/2006

The judge found the taped telephone evidence demonstrated the defendant acknowledged a three-month loan and the defendant's contemporaneous assertions about a three-year term and alternative interest rate were inherently improbable and fabricated; therefore there were no triable issues and the plaintiffs were entitled to summary judgment for AUD100,000 with contractual interest at 10% p.a. to the date of the writ and judgment interest thereafter, plus costs and counsel's certificate.
3 May 2000

NEW TECHNOLOGY CABLE LTD. v. POPBRIDGE INDUSTRIAL LTD.

Citation

NEW TECHNOLOGY CABLE LTD. v. POPBRIDGE INDUSTRIAL LTD.
Court

Court of Appeal
Case number

CACV50/2000

The Court held the written letter of 9 April 1999 evidenced the plaintiff as the principal lender; the defendant accepted the benefit of the advance and thus ratified any unauthorised signature; the contractual rate of 5% per month equals 60% p.a. and does not exceed the statutory limit and the loan was in any event within the statutory exemption for companies with paid up capital over HK$1,000,000; accordingly the defendant had no defence to the principal sum and judgment for the plaintiff was appropriate, but the issue of the proper rate of interest remains triable and the defendant is enti…
8 Feb 1991

CHUNG KHIAW BANK LTD. v. HO SUI FONG AND ANOTHER

Citation

CHUNG KHIAW BANK LTD. v. HO SUI FONG AND ANOTHER
Court

Court of First Instance
Case number

HCA693/1983

The mortgagee breached its duty to take reasonable care in conducting the 2nd auction by failing to obtain an up-to-date valuation, by relying on forced-sale figures despite market improvement, and by providing inadequate publicity, causing the properties to be sold at an undervalue; proper market price was assessed at $650,000 and the mortgagee is limited to charging interest at the contracted rate of 2.5% over prime; amount due as at 18 October 1989 assessed at $360,593.62 and order nisi made for costs of assessment.

Hong Kong Case Law

HONG KONG FINANCE CO LTD v. SO DAH WAI JOHN AND ANOTHER

LAW CHI LEUNG, DONNY AND ANOTHER v. CHAU CHIU NUNG

NEW TECHNOLOGY CABLE LTD. v. POPBRIDGE INDUSTRIAL LTD.

CHUNG KHIAW BANK LTD. v. HO SUI FONG AND ANOTHER