26 Mar 2021
DING HUIRONG v. CHINA TIMES SECURITIES LTD AND ANOTHER
- Citation
- [2021] HKCA 419
- Court
- Court of Appeal
- Case number
- CACV122/2020
The Agreement was properly characterised as a loan secured by a security interest in the pledged shares; accordingly the equitable doctrine of the equity of redemption applied and contractual provisions purporting to waive or extinguish the mortgagor's right to surplus proceeds or to prevent redemption were clogs and invalid; the Order 14A determination was properly entertained given the plaintiff's adoption of the Agreement and undertakings, and the appeals were dismissed.