21 Mar 2019
WINLAND FINANCE LTD v. GAIN HERO FINANCE LTD
- Citation
- [2019] HKCFI 771
- Court
- Court of First Instance
- Case number
- HCMP2671/2017
The Winland Agreement did not create an interest in land registrable under the LRO; at best it created an equitable assignment of future sale proceeds and the deposit of title deeds did not effect an immediate equitable mortgage inconsistent with the written terms; a Charging Order Absolute imposed a charge on the debtor's beneficial interest in the Property and therefore has priority over Winland's unregistrable equitable interest in future sale proceeds; accordingly Gain Hero's originating summons succeeds and Winland's counterclaim is dismissed.