Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Payment default

  • 1 Mar 2023

    HUANG QINGZHAN v. CHINA DING YI FENG HOLDINGS LTD

    Citation
    [2023] HKCA 237
    Court
    Court of Appeal
    Case number
    CACV103/2020

    The Court allowed the appeal: the account details in Schedule 5 were the Noteholder's registered account; the Company's delivery of the cheque to the bank constituted a payment instruction and an attempt to transfer to that registered account; the Noteholder had breached the implied obligation to provide accurate and adequate account details and thus, applying the prevention principle, could not rely on the alleged payment default to claim early redemption; accordingly no payment default that entitled early redemption was established and the judgment below was set aside.

  • 11 Oct 2021

    HUANG QINGZHAN v. CHINA DING YI FENG HOLDINGS LTD

    Citation
    [2021] HKCA 1492
    Court
    Court of Appeal
    Case number
    CACV103/2020

    The Court agreed with the trial judge that the defendant's failure to make the first interest payment as prescribed constituted a payment default under Condition 8(i) entitling the plaintiff to early redemption, and the defendant failed to show any sufficient basis for a stay of execution pending appeal; accordingly the renewed application for a stay was dismissed and the judge's reasoning was adopted.

  • 5 May 2020

    HUANG QINGZHAN v. CHINA DING YI FENG HOLDINGS LTD

    Citation
    [2020] HKCFI 689
    Court
    Court of First Instance
    Case number
    HCMP1102/2019

    The Company failed to identify reasonable grounds of appeal and, alternatively, even if such grounds existed the Court would refuse a stay because the Company did not demonstrate good reasons to override the successful plaintiff's entitlement to immediate payment and did not address the prejudice to the plaintiff; accordingly the summons for stay of execution was dismissed and costs were ordered nisi.

  • 19 Mar 2020

    HUANG QINGZHAN v. CHINA DING YI FENG HOLDINGS LTD

    Citation
    [2020] HKCFI 484
    Court
    Court of First Instance
    Case number
    HCMP1102/2019

    The court held that the issuer failed to pay the first interest on 31 March 2016 in the manner required (transfer to registered account or mailed cheque to registered address), the default continued beyond the 5‑day cure period and thus constituted a payment default under Condition 8(i) entitling the noteholder to require early redemption (notice served 16 August 2016); conversely, the 2019 suspension did not breach Clause 2.2 because that warranty was given as at agreement/completion and did not survive beyond Completion, so suspension was not an event of default under Condition 8(iii).

  • 25 Jun 2012

    PIONEER DELUXE LTD v. CIPHER INTERNATIONAL LTD AND ANOTHER

    Citation
    PIONEER DELUXE LTD v. CIPHER INTERNATIONAL LTD AND ANOTHER
    Court
    Court of First Instance
    Case number
    HCA1434/2009

    Defendant caused the delivery delay by failing to pay for bespoke boxes and by issuing a dishonoured cheque; the Letter of Credit expired and was not extended; defendant accepted deliveries and produced no evidence of defects or adequate particulars for its counterclaim, therefore plaintiff is entitled to judgment for the contract price, the counterclaim fails (except for paid lasts and moulds which form a setoff/lien), costs awarded with reduction for late production of documents.

  • 11 Mar 2003

    NGUYEN THI KIM v. BRISFULL LTD

    Citation
    NGUYEN THI KIM v. BRISFULL LTD
    Court
    District Court
    Case number
    DCCJ8504/2001

    Defendant did not follow the contractual cure/notice procedure before taking back four blocks and its witnesses' assertions about insufficient workers were unsubstantiated; re-testing was integral to the water-testing contract; Defendant breached by failing to make periodic payments, entitling Plaintiff to cease work; on assessment Plaintiff had performed approximately 85% of the contract and was entitled to pro rata payment net of prior partial payment and with specific sums awarded.

  • 13 May 2002

    RE WU KAM YUK

    Citation
    RE WU KAM YUK
    Court
    Court of First Instance
    Case number
    HCB1512/2002

    The court ordered bankruptcy against each debtor because the debt, even on the debtors' favorable calculations, exceeded the statutory bankruptcy threshold and the petitioner's refusal of the settlement offer was within the range of reasonable conduct given the debtors' history of defaults and prior receiving order/rescission.