17 Sept 2013
DBS BANK (HONG KONG) LTD v. DAYS IMPEX LTD (INCORPORATED IN LIBERIA)
- Citation
- DBS BANK (HONG KONG) LTD v. DAYS IMPEX LTD (INCORPORATED IN LIBERIA)
- Court
- Court of Appeal
- Case number
- CACV239/2012
The guarantee's express wording, read in its commercial context, created a continuing and unlimited obligation covering additional and future facilities (Clause 1, Clause 6(v), Clause 23 and blank Part 3); therefore Days Impex (Liberia) had no real prospect of a defence confined to the initial facility letter and summary judgment was properly entered; costs are payable on the indemnity basis under the guarantee.