10 Dec 2004
ASG BROKERAGE LTD AND ANOTHER v. LAI CHEUK KWAN ARTHUR
- Citation
- ASG BROKERAGE LTD AND ANOTHER v. LAI CHEUK KWAN ARTHUR
- Court
- Court of First Instance
- Case number
- HCA3384/2001
Court found ASG Finance had no entitlement to recover under the guarantees; Bowen guarantee was in existence by June 2000 and was supported by consideration and enforceable against Mr Lai for HK$2,000,000; Chan guarantee signed about 22 November 2000 but no new or continued credit was granted thereafter so it lacked consideration and was unenforceable; Disengagement Agreement did not release ASG Brokerage and rectification/warranty claims failed; judgment entered for ASG Brokerage for HK$2,000,000 with contractual interest and costs ordered as specified.