31 May 2021
LUVPA LTD v. HONOR CITY HK PHARMACY LTD
- Citation
- [2021] HKLdT 40
- Court
- Lands Tribunal
- Case number
- LDPE1375/2020
Applying the Cavendish/Makdessi framework, the Tribunal held the 2.5% per month contractual interest clause was enforceable: it served a legitimate commercial interest in timely payment and was not extravagant, exorbitant or unconscionable in the circumstances. Consequently the applicant was entitled to contractual interest totalling HK$249,713.46 (HK$214,615.44 for Shops A,C,D and HK$35,098.02 for Shop B). Conversely, the applicant could not recoup the HK$337,000 rental concession because the landlord had granted a concession which the tenant relied upon and the landlord could not impose a r…