30 May 2022
The bankruptcy order vested any rights in action of the plaintiff in the Official Receiver under ss2 and 58 of the Bankruptcy Ordinance; the Official Receiver declined to permit continuation or to assign those rights back to the plaintiff, so the plaintiff lacked standing and all his applications were properly struck out with costs to the defendant.
2 Jun 2015
The court found on the balance of probabilities that (1) Vagas Lane proved breach of the contractual warranties by the vendor and is entitled to damages totaling HK$940,099.26 to reflect amounts paid to settle undisclosed liabilities; (2) the alleged oral side agreements (issuance of bonus shares or HK$10m payment) did not exist and evidence for them was not credible or corroborated; (3) FA Finance proved the HK$7m payment was an unsecured loan advanced on condition of a signed loan agreement which was not executed and therefore, on restitutionary grounds (total failure of consideration and m…