11 Jan 2002
AGFA HONG KONG LTD. v. KING DRAGON INDUSTRIAL LTD. & OTHERS
- Citation
- AGFA HONG KONG LTD. v. KING DRAGON INDUSTRIAL LTD. & OTHERS
- Court
- Court of First Instance
- Case number
- HCA13016/1999
The court found on the balance of probabilities that the transactions were sales to the 1st Defendant (buyer-seller), that the defendants executed and delivered the $60 million guarantees before the relevant audit/visits, that forbearance by the Plaintiff provided adequate consideration if needed, and accordingly the 2nd and 4th Defendants are liable under the $60 million guarantees; judgment entered for the Plaintiff for $60,000,000 plus interest.