2 Jun 2006
TRAVELEX HONG KONG LTD v. ETTORE NASSETTI (ASIA) LTD
- Citation
- TRAVELEX HONG KONG LTD v. ETTORE NASSETTI (ASIA) LTD
- Court
- Court of First Instance
- Case number
- HCA499/2004
No misrepresentation was proven: the recording, the parties' conduct and the Agreement show the transactions were forward contracts not options or swaps; the defendant defaulted and the plaintiff lawfully liquidated and covered under the Agreement and is entitled to recover the shortfall (US$386,938) with contractual interest and costs, and the counterclaim fails.