7 Nov 2007
CITIBANK (HONG KONG) LTD v. CHAN CHI TAK
- Citation
- CITIBANK (HONG KONG) LTD v. CHAN CHI TAK
- Court
- District Court
- Case number
- DCCJ1262/2007
Assignment was effective under clause 11.1 and the transfer agreement so Citibank HK had locus; the Money Lenders Ordinance does not apply to authorised banking institutions so the usury argument fails; the notice of default rates applies the 34% rate to the defendant's circumstances irrespective of card label; clause 4.3(d) authorises the bank's finance charge methodology; there is a tenuous triable issue only on whether amendment notices were actually received, but it is shadowy and insufficient to defeat summary disposal fully; conditional leave to defend was granted subject to payment int…