Hong Kong Case Law: Decisions & Judgments

Topic

Margin lending

Legal area

Court

27 May 2020

ZILLION GLOBAL LTD v. UBS AG

Citation

[2020] HKCFI 953
Court

Court of First Instance
Case number

HCA1754/2014

Transcripts of the Singapore trial relating to Mr Pan's investment experience and risk appetite and Ms Zhang's knowledge, experience and role are relevant under the Peruvian Guano test and disclosure is necessary for the fair disposal of the action under Order 24 rule 8; the plaintiff failed to show disclosure unnecessary or oppressive, therefore an order for specific discovery must be made.
23 Dec 2010

CITIBANK N.A. v. NOBLE TREASURE LTD AND OTHERS

Citation

CITIBANK N.A. v. NOBLE TREASURE LTD AND OTHERS
Court

Court of First Instance
Case number

HCA2639/2008

Leave to adduce expert evidence was granted only in respect of (i) the nature and risks of the accumulator and decumulator products (Issue 1) and (ii) the quantum of losses suffered by D1 if liability is established (Amended Issue 4). Leave was refused for evidence on general suitability and on the sufficiency/adequacy of warnings (Issues 2 and 3) because those matters are primarily for the trier of fact and/or sufficiently covered by the technical analysis under Issue 1. Mr Solomon Green was accepted as a suitable expert at this interlocutory stage; challenges to his experience go to the wei…
14 Nov 2008

THE NEW CHINA HONG KONG FINANCE LTD (In Liquidation) v. WONG TIN SHU

Citation

THE NEW CHINA HONG KONG FINANCE LTD (In Liquidation) v. WONG TIN SHU
Court

Court of First Instance
Case number

HCA5350/2000

Defendants failed to prove non est factum or set off and adduced no evidence; omissions in documentation (notably the interest rate) did not prejudice sophisticated, active traders who received detailed monthly statements showing transactions and interest charged; exercise of discretion under s18(3) to enforce the agreements was appropriate, so plaintiff was entitled to judgment for the claimed sums with interest and costs.
14 Nov 2008

THE NEW CHINA HONG KONG FINANCE LTD (In Liquidation) v. SHIMADA LTD

Citation

THE NEW CHINA HONG KONG FINANCE LTD (In Liquidation) v. SHIMADA LTD
Court

Court of First Instance
Case number

HCA11030/1999

The court exercised its s18(3) discretion to enforce the Shimada and Wong loan agreements because the defendants were sophisticated, monthly statements provided detailed transaction and interest information, and no prejudice flowed from omission of the contractual interest rate; the pleas of non est factum and set-off failed for lack of evidence; accordingly judgment entered for the plaintiff for the declared sums and interest.
15 Dec 2000

WILLIAM REIDY v. BNP INTERNATIONAL FINANCIAL SERVICES (HONG KONG) LTD.

Citation

WILLIAM REIDY v. BNP INTERNATIONAL FINANCIAL SERVICES (HONG KONG) LTD.
Court

Court of First Instance
Case number

HCA17026/1998

Plaintiff failed to prove defendant breached any contractual, fiduciary or negligent duty in respect of the equities portfolio because plaintiff had taken on decision-making responsibility from November 1996, no workable implied term to report market movements was established (and such a term would conflict with express contractual rights to demand margins and sell without notice), and in any event the indemnity/exclusion clause in the written agreement would cover losses except for actual fraud; defendant therefore not liable and succeeds on counterclaim for unpaid shortfall with interest.
9 Dec 1999

PROVISIONAL TALENT LTD. v. SOUTH CHINA FINANCE CO. LTD.

Citation

PROVISIONAL TALENT LTD. v. SOUTH CHINA FINANCE CO. LTD.
Court

Court of First Instance
Case number

HCA2183/1999

The Defendant's evidence of the alleged agreement is uncorroborated, inconsistent with the Defendant's subsequent conduct, and not credible; consequently the Defendant failed to show an arguable defence and summary judgment for the Plaintiff was appropriate.

Hong Kong Case Law

ZILLION GLOBAL LTD v. UBS AG

CITIBANK N.A. v. NOBLE TREASURE LTD AND OTHERS

THE NEW CHINA HONG KONG FINANCE LTD (In Liquidation) v. WONG TIN SHU

THE NEW CHINA HONG KONG FINANCE LTD (In Liquidation) v. SHIMADA LTD

WILLIAM REIDY v. BNP INTERNATIONAL FINANCIAL SERVICES (HONG KONG) LTD.

PROVISIONAL TALENT LTD. v. SOUTH CHINA FINANCE CO. LTD.