8 Feb 2024
WAI LUNG YEE SHIRLEY AND ANOTHER v. NG CHEUK NAM
- Citation
- [2024] HKCFI 457
- Court
- Court of First Instance
- Case number
- HCA130/2020
There was no antecedent oral agreement; the Note in the written loan agreement is enforceable and is to be construed as allowing the Defendant to postpone payments only to the extent of sharing risk and reward, such that the Defendant must pay Plaintiffs 20% (the Plaintiffs' 5m of 25m) of any sums received by Brilliant Finance from Glory Global within a reasonable time; applying that construction to the sale proceeds of HK$24,038,000 yields judgment for Plaintiffs of HK$4,807,600 plus interest and costs.