Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Termination/rescission

  • 27 Feb 2015

    STARK MOLY LTD v. LAM FUNG

    Citation
    STARK MOLY LTD v. LAM FUNG
    Court
    Court of First Instance
    Case number
    HCA1581/2010

    The court held that Stark Moly's single application to discharge the order and seek damages sufficed to invoke the court's power to put an end to the contract; exercised equitable discretion to discharge the prior specific performance order because enforcement or awarding damages in the full sum claimed would unjustly allow Stark Moly double recovery (option consideration plus retained value transferred into Wiseking shares); accordingly the specific performance order was discharged and judgment for damages was entered to be assessed.

  • 26 Apr 2002

    Super Mate Ltd. v. Grand Town Investment Ltd.

    Citation
    Super Mate Ltd. v. Grand Town Investment Ltd.
    Court
    Court of First Instance
    Case number
    HCA2631/2000

    Where a purchaser repudiates and the seller elects to terminate, damages are the loss of bargain measured by contract price less market value as at the date of termination (or a justified valuation date), less sums already paid; commercial interest was properly awarded at 2% below prime from date of writ to judgment and judgment interest thereafter; absent evidence of anticipatory repudiation the seller was entitled to hold buyer to the contract until termination.