8 Nov 2000
WO HING ENGINEERING LTD. v. TYCO ENGINEERING & CONSTRUCTION (HONG KONG) LTD.
- Citation
- WO HING ENGINEERING LTD. v. TYCO ENGINEERING & CONSTRUCTION (HONG KONG) LTD.
- Court
- Court of First Instance
- Case number
- HCCT40/1999
The court found a binding contract whereby Tyco stepped into Wo Hing's subcontract on terms including an $80,000,000 contract price (subject to adjustments), a 3% fee to Wo Hing deducted from monthly valuations, Tyco's obligation to fund the electrical works and pay on a back-to-back pay-when-paid basis; Tyco repudiated by failing to provide necessary funding, Wo Hing validly accepted the repudiation, resumed and completed the works, and is entitled to damages to put it in the position it would have been in (including a reasonable 10% profit shortfall, recovery of the lost 3% fee less deducti…