16 Jun 2021
GOLDBAY FORTIS LTD v. ASIA ALLIED INFRASTURCTURE HOLDINGS LTD
- Citation
- [2021] HKCFI 1684
- Court
- Court of First Instance
- Case number
- HCA371/2014
The Memorandum of 12 September 2013 was a valid and enforceable contract granting Goldbay Fortis a preemptive right; necessary implied terms (good faith / best endeavours / no acting to deprive preemption) were implied to give business efficacy; Rich Resource wrongfully repudiated the Memorandum by terminating before the objectively assessed Deadlock Stage and by acting in bad faith in securing and implementing the HP MOU with High Peace; Asia Allied (Chun Wo) procured that repudiation and is jointly and severally liable with Rich Resource; Goldbay Fortis is awarded damages for loss of bargai…