18 Mar 2020
CHEUNG AH MEI AND ANOTHER v. WONG SHIU LING
- Citation
- [2020] HKCFI 449
- Court
- Court of First Instance
- Case number
- HCA2025/2014
On construction of the Letter in its commercial and SPA/listing context and applying the objective test, the arrangements were between the Shareholders and SCE/Group (with recipient companies such as Phoenix assuming operational receipt), not a personal undertaking by the Defendant; further an implied term (necessary for business efficacy) limited payments to the interim period pending the listing so payments ceased when the listing failed; accordingly Plaintiffs failed to prove Defendant's personal liability and the claims were dismissed.