12 Dec 2007
INCORPORATED OWNERS OF SO TAO CENTRE v. LAM KONG WAN
- Citation
- INCORPORATED OWNERS OF SO TAO CENTRE v. LAM KONG WAN
- Court
- Court of Appeal
- Case number
- CACV158/2007
The Court of Appeal held that laches could not be invoked to defeat the plaintiff's contractual entitlement to default interest because the claim was brought within the applicable 12-year limitation period for a deed; the stipulated default interest under the DMC was not a penalty and was enforceable; interest from the date of the writ to judgment is payable as of right under the contractual entitlement and not subject to the court's discretionary rate under section 49; accordingly the trial judge erred in cutting down the contractual default interest to a two-year accrual period and in apply…