17 Mar 2000
THE SUMITOMO BANK v. XIN HUA ESTATE LTD. AND OTHERS
- Citation
- THE SUMITOMO BANK v. XIN HUA ESTATE LTD. AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCL256/1998
On the evidence the plaintiff established prima facie entitlement to repayment under the Facility Agreement and enforceability of the Guarantee and the GDB standby L/C; the defendants failed to prove any binding revised agreement, negligent misrepresentation or collateral warranty, and the documentary record and parties’ conduct contradicted the defendants’ case; GDB’s assertions that the L/C was a mere formality or void for lack of SAFE approval were not proved and, in any event, were irrelevant to enforcement in Hong Kong where the L/C was payable; accordingly judgment was entered for plain…