21 Jan 2021
GEMINI FUNDS LTD v. CHINA BEIDAHUANG INDUSTRY GROUP HOLDINGS LTD AND ANOTHER
- Citation
- [2021] HKCFI 227
- Court
- Court of First Instance
- Case number
- HCA1948/2019
Defendants' core factual case — that the plaintiff guaranteed the loan and agreed to pledge the original shares (including ancillary bonus shares) — is inherently improbable and contradicted by contemporaneous documents (the written Chinese Agreement and the lender's Letter of Request) and by the absence of any reference to the alleged oral pledge in subsequent correspondence; therefore the defendants have failed to raise any arguable defence and summary judgment is appropriate.