19 Apr 2002
BNP PARIBAS v. G.C. LUCKMATE TRADING LTD.
- Citation
- BNP PARIBAS v. G.C. LUCKMATE TRADING LTD.
- Court
- Court of First Instance
- Case number
- HCA12359/1999
On the balance of probabilities the court found that APT's fishmeal trading business was transferred to G.C. Luckmate Trading Limited on or about 1 October 1998 because the cumulative evidence (common activity, shared directors, name usage, letters, staff and transactions, contemporaneous representations to BNP) established a de facto transfer; section 8 did not limit liability because the defendant paid nothing and s.8 is intended to protect transferees who paid consideration in good faith, therefore defendant was liable to pay US$999,162.69 plus interest.