12 Nov 2014
SAMLANE DEVELOPMENT LTD v. FUNG CHI FAI
- Citation
- SAMLANE DEVELOPMENT LTD v. FUNG CHI FAI
- Court
- Court of First Instance
- Case number
- HCA318/2006
The option under the Option Agreement expired by default at six months because no written extension was agreed and no legitimate unilateral extension arises from inaction; however the Deed of Assignment was nevertheless valid and effective because the Liquidators lawfully exercised their statutory power under Companies Ordinance s199(2)(a) to sell the company's chose in action to Remedy Asia; service of the assignment documents on the Defendant's solicitors in March 2011 was effective for LARCO s9 purposes and did not prejudice the Defendant; on the merits the plaintiff proved advance payment…