14 Jul 2017
XIAO ZHIYONG v. ASIA EQUITY VALUE LTD
- Citation
- XIAO ZHIYONG v. ASIA EQUITY VALUE LTD
- Court
- Court of First Instance
- Case number
- HCSD46/2016
The Court found a bona fide dispute on substantial grounds: there was credible evidence that AEVL may have been an unlicensed money lender, that the securities were arguably not registrable under the Companies Ordinance and that the Facility Letter charged an extortionate effective interest rate and unlawful default interest; accordingly the statutory demand was set aside.