11 Apr 2003
KEEP POINT DEVELOPMENT LTD v. CHAN CHI YIM AND OTHERS
- Citation
- KEEP POINT DEVELOPMENT LTD v. CHAN CHI YIM AND OTHERS
- Court
- Court of Final Appeal
- Case number
- FACV9/2002
The Court held Yuen Sung & Co. breached their duty to advise vulnerable unit holders and are liable, but the correct basis for assessing loss is the market value of the old units at the dates of assignment as evidenced by the agreed valuation tendered at trial; the Court of Appeal erred in measuring loss by reference to contract/option prices or a developer aggregation value. The Court set aside the Court of Appeal's order and remitted the assessment on the basis indicated by the trial judge and this judgment, while affirming that indemnity for reasonable mitigation steps (including attempts…