20 May 2021
SOUTHWEST SECURITIES (HK) BROKERAGE LTD v. NIEUMARKT INVESTMENTS LTD AND ANOTHER
- Citation
- [2021] HKCA 740
- Court
- Court of Appeal
- Case number
- CACV250/2020
The Court held that the defendants' case on a collateral agreement was not credible and/or legally uncertain and thus failed; the plaintiff's claim was for a liquidated sum and both borrower and guarantor incurred liabilities in debt under the Facility Agreement entitling the lender to final judgment for the specified sum; the existence of mortgage security and its possible realisation does not preclude entering judgment for the debt, particularly where the guarantor waived first recourse, and the contractual default interest provision (30% p.a., compounded annually) is enforceable; according…