25 Jun 2009
GOLDLION PROPERTIES LTD AND OTHERS v. REGENT NATIONAL ENTERPRISES LTD
- Citation
- GOLDLION PROPERTIES LTD AND OTHERS v. REGENT NATIONAL ENTERPRISES LTD
- Court
- Court of Final Appeal
- Case number
- FACV10/2008
The appeal is allowed: clause 13.2 permits the vendor to rescind when a matter beyond its reasonable control has caused a reasonable opinion that completion is materially hindered; the liquidator's opinion was attributable to Regent as its directing mind, was reasonable in the circumstances (notwithstanding arguable error in law), and clause 13.2 did not impose a duty to notify the purchaser or take steps to avert the perceived hindrance in the circumstances, so rescission under clause 13.2 was valid.