Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Loan versus capital contribution

Legal area

Court

5 Mar 2020

TOPCAST AVIATION SUPPLIES CO LTD v. FLIGHTPARTS LTD

Citation

[2020] HKCFI 389
Court

Court of First Instance
Case number

HCA1583/2017

Contemporaneous emails, the 2013 Loan Agreement, defendant’s financial statements recording amounts as ‘‘due to shareholder/director’’, and ancillary transaction documents demonstrated the payments were advances/loans; defendant failed to show a believable defence that the payments were capital injections or that the 2017 documents extinguished the debts, therefore no triable issues were established and summary judgment for the plaintiff as to Items 1–9 must stand; appeal dismissed.
20 Aug 2002

VASHDEO GAGOOMAL v. NICOLE ELIZABETH KOZMA AND OTHERS

Citation

VASHDEO GAGOOMAL v. NICOLE ELIZABETH KOZMA AND OTHERS
Court

District Court
Case number

DCCJ1283/2001

The judge held that the defendants must disclose the Tigger's Treats Limited accounts for December 1999 to October 2000 because admissions indicated the company continued to trade as Tigger's Treats and the defendants had not established a valid basis for privilege; accordingly the court ordered disclosure within 14 days and held that failure to comply would result in striking out the defence and leave for the plaintiffs to enter judgment with costs.