10 Jun 2015
BANK OF CHINA (HONG KONG) LTD v. THE SECRETARY FOR JUSTICE AND ANOTHER
- Citation
- BANK OF CHINA (HONG KONG) LTD v. THE SECRETARY FOR JUSTICE AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCMP1820/2014
The court exercised its discretion under s18(3) MLO to hold the second loan and mortgage enforceable because the non-compliance was inadvertent and minor and it would be inequitable and disproportionate to deprive the lender of its security; interest on the original advance is part of the secured debt and ranks prior to the restraint and charging order, so the 2nd defendant's claim for principal and interest has priority over the Government's charge.
- Enforceability of security under money lenders ordinance s18
- Priority of equitable charges and charging orders
- Tacking and priority of interest under conveyancing and property ordinance s45
- Restraint and charging orders under organised and serious crimes ordinance
- Application of s18(3) relief to disputes with third parties
- Appropriation of repayments