6 May 2021
DYNAMIC ASSET MANAGEMENT LTD v. CHOI CHAU CHUNG by Choi Lam Hung, his Guardian ad litem
- Citation
- [2021] HKCFI 1334
- Court
- Court of First Instance
- Case number
- HCA1566/2015
On the balance of probabilities the defendant lacked mental capacity on 20 May 2015; the lender knew or in any event ought to have known of that incapacity (ostensible signs, request for medical certificate and attempt to record); the defendant did not in substance receive or retain benefit such that restitution fails; the true principal was the reduced sum and, accounting for deducted fees and prepaid charges, the effective interest exceeded 60% so the agreement is illegal and unenforceable under s.24 MLO; accordingly the counterclaim succeeds, loan unenforceable, restitution dismissed, and…