21 Jan 2022
GAIN EAST INVESTMENT LTD v. CHAN PO WING
- Citation
- [2022] HKCA 156
- Court
- Court of Appeal
- Case number
- CACV8/2020
The Court held that the contemporaneous Cash Cheque and signed Receipt established receipt of the HK$400,000 and rendered the defendant's contrary pleaded account unbelievable; the breaches of the Money Lenders Ordinance identified did not, on the evidence, render the transaction extortionate or unenforceable beyond the concession to exclude HK$9,500; the plaintiff's licensing evidence was sufficient; summary judgment was therefore appropriate subject to adjustment of the principal and interest calculation (starter principal reduced to HK$1,890,500; contractual interest applied for the loan t…