Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Interpretation of guarantee clauses

Legal area

Court

6 Aug 2004

HANG SENG BANK LTD v. GOLDEN TECH (ASIA) LTD AND OTHERS

Citation

HANG SENG BANK LTD v. GOLDEN TECH (ASIA) LTD AND OTHERS
Court

Court of First Instance
Case number

HCA193/2003

The judge held there was no evidence the change to the signature mandate was a material variation of the principal contract that would discharge the surety; the termination notice was ineffective because the guarantee required notice by all guarantors and the unilateral notice by the 3rd defendant did not suffice; a demand was made within the three month period (18 September 2001) and thus the plaintiff retained the right to call on the guarantor; no triable issues arose on the amount or other matters, so summary judgment was appropriate for the plaintiff.
17 Jan 1985

PANIN INTERNATIONAL FINANCE CORPORATION LTD v. CHIU YUE KAM AND ANOTHER

Citation

PANIN INTERNATIONAL FINANCE CORPORATION LTD v. CHIU YUE KAM AND ANOTHER
Court

Court of First Instance
Case number

HCA13842/1983

On the facts the court accepted the 2nd defendant's account that the guarantee was intended and agreed to be limited to $50,000 (either by a concluded contract or an offer accepted by conduct) and therefore entered judgment for the plaintiff in the sum of $50,000; the court further held that interest at 13% was payable under clause 2 from 1 November 1983 until judgment and ordered payment out of the $50,000 paid into court to the plaintiff's solicitors.