16 Feb 2022
ACTUALLY FINANCIAL LTD v. SO YAT
- Citation
- [2022] HKDC 100
- Court
- District Court
- Case number
- DCCJ2166/2019
Defendant failed to prove on the balance of probabilities that INC and/or Chung Shun acted for or in collusion with the plaintiff; there was credible evidence that the defendant initiated contact with the plaintiff and no credible link tying the Disputed Fees to the plaintiff; consequently the Disputed Fees cannot be treated as 'interest' for s24 calculation and the effective rate remains 24% p.a. within the statutory limit; plaintiff entitled to judgment for outstanding loan with contractual interest and costs.