6 Dec 2024
YINGGAO RESOURCES LTD AND ANOTHER v. THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD
- Citation
- [2024] HKCA 1130
- Court
- Court of Appeal
- Case number
- CAMP94/2023
The Court refused the extension of time because the delay was substantial and unexplained by the plaintiffs' solicitors and the plaintiffs failed to show a real prospect of success: Para 49 raised a new, convoluted claim that was bound to fail on causation and remoteness. The plaintiffs knew of the bank's refusal to execute transfers and could not reasonably have relied on release of the Sums when entering the Gold Mining Supplemental Agreement 2; that act constituted a novus actus and broke the chain of causation. The asserted loss of mining rights was too remote and not within the bank's co…