31 Mar 2004
PHILIP SECURITIES (HK) LTD v. CHOI BUN HUNG
- Citation
- PHILIP SECURITIES (HK) LTD v. CHOI BUN HUNG
- Court
- District Court
- Case number
- DCCJ1908/2002
On the facts the court found defendant's appointment terminated effective 1 March 2001 (last working day 28 February 2001); Clause 8 is a contractual indemnity imposing primary liability on the dealer to indemnify the broker for client defaults; the indemnity did not cover interest and bank charges incurred after termination and those items were not recoverable; accordingly plaintiff entitled to principal net of payments (HK$125,704.63) and statutory interest from writ to judgment at 8% pa; costs to plaintiff.