20 Oct 2017
NGAN PUI CHI AND ANOTHER v. BAO QUAN
- Citation
- NGAN PUI CHI AND ANOTHER v. BAO QUAN
- Court
- Court of First Instance
- Case number
- HCA2262/2013
The defendant failed to discharge the persuasive burden to prove the disputed transfer documents were genuine; consequently the transfers of the pledged shares on 31 January 2013 were not valid, the defendant must return the shares to the 1st plaintiff, the forfeiture of 4,700,000 shares by the defendant was not lawful, and the default interest term (0.16% per day) is extortionate and is struck out under the Money Lenders Ordinance; costs to follow the event.