2 May 1996
SAVE POWER LTD. v. LUP KEE TSE , ARTHUR
- Citation
- SAVE POWER LTD. v. LUP KEE TSE , ARTHUR
- Court
- Court of First Instance
- Case number
- HCA9115/1995
The court found on the evidence that the defendant, while a director, failed to disclose an interest in Riddell/PAF, procured a Letter of Credit in the plaintiff's name for a non-existent goods transaction (resulting in US$1,300,000 loss), and participated in arrangements subordinating the plaintiff's claim which produced an intervening increase in PAF's debt from US$23,000,000 to US$32,059,391, thus awarding the plaintiff US$9,059,391 for that increase; total damages awarded were US$10,359,391 with interest and costs.