5 Jul 2005
GUANGDONG INTERNATIONAL TRUST & INVESTMENT CORPORATION HONG KONG (HOLDINGS) LTD v. M.O. HOLDINGS LTD AND OTHERS
- Citation
- GUANGDONG INTERNATIONAL TRUST & INVESTMENT CORPORATION HONG KONG (HOLDINGS) LTD v. M.O. HOLDINGS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA1216/2001
On the balance of probabilities the 3rd Defendant proved that the USD2,000,000 and USD3,000,000 payments were made by the 1st Defendant for and on behalf of the 3rd Defendant, extinguishing the USD5,000,000 debt; contractual interest at 13% attached to the short term advance; accordingly the Plaintiff's claim against the 3rd Defendant is dismissed and judgment is entered for the 3rd Defendant, while the Plaintiff's claim against the 1st Defendant succeeds for the larger sum claimed with interest per the loan agreement.