5 Jun 2014
SPEED SOURCING LTD AND OTHERS v. RAINBOW STATE INVESTMENTS LTD AND OTHERS
- Citation
- SPEED SOURCING LTD AND OTHERS v. RAINBOW STATE INVESTMENTS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA2298/2013
The uncontested documentary evidence (the SPA, transfer documents and the cheque showing HK$1,750,000) directly contradicted the plaintiffs' pleaded allegation of no consideration; the plaintiffs failed to dispute authenticity or explain why the consideration was not real; therefore their cause of action against the 2nd and 3rd defendants was bound to fail and no serious issue to be tried existed to justify injunctions, so the claims against the 2nd and 3rd defendants were struck out and the relevant injunctions dismissed.