25 May 2009
SUN HUNG KAI INVESTMENT SERVICES LTD v. QUALITY PRINCE LTD AND OTHERS
- Citation
- SUN HUNG KAI INVESTMENT SERVICES LTD v. QUALITY PRINCE LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA1995/2008
The court held that the plaintiff validly exercised its contractual power of sale upon defendants' default, the private sale to the sole bidder did not constitute bad faith or sale at undervalue on the evidence, the contractual clause permitting an increase in interest was discretionary and lawful, and the defendants failed to establish estoppel or undue influence; accordingly there was no plausible defence and summary judgment was entered for the plaintiff for the claimed sum with interest and costs.