6 Nov 2002
BANK OF CHINA (HONG KONG) LTD. v. TOWER PROPERTY LTD. AND OTHERS
- Citation
- BANK OF CHINA (HONG KONG) LTD. v. TOWER PROPERTY LTD. AND OTHERS
- Court
- Court of First Instance
- Case number
- HCMP3254/2002
The court held that the plaintiff, by virtue of the Mortgage's survival clause and the Merger Ordinance, stood in the shoes of Kwangtung Provincial Bank and was entitled to enforce the mortgage in its own name; the SP Agreement did not deprive KPB of the legal interest necessary to sue (and in any event the plaintiff succeeded to that interest); the servicing agreement and power reinforced plaintiff's authority; defendants failed to establish any arguable defence (no valid compromise agreement, certificate of indebtedness binding, no actionable negligence, valid appointment of receivers); acc…