9 Nov 2009
LEUNG CHEE KUEN CAROL MACRADY v. AMERICAN INTERNATIONAL ASSURANCE CO (BERMUDA) LTD
- Citation
- LEUNG CHEE KUEN CAROL MACRADY v. AMERICAN INTERNATIONAL ASSURANCE CO (BERMUDA) LTD
- Court
- District Court
- Case number
- DCCJ2035/2004
The court held AIA validly terminated the agency by exercising its express contractual right to terminate on 15 days' notice under clause 23(b); clause 25(c) (dishonesty) was not established. The Loan Agreement could not be enforced because its repayment regime was superseded and governed by the LOU, PCB Terms and Contract; accordingly plaintiff's claims failed and AIA's counterclaim based solely on the Loan Agreement also failed; no order as to costs (nisi).