2 Mar 2006
TAI FOOK SECURITIES CO LTD v. SINCERE\'S KNITTING MILLS LTD AND ANOTHER
- Citation
- TAI FOOK SECURITIES CO LTD v. SINCERE\'S KNITTING MILLS LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA3394/2002
On the evidence, including contemporaneous telephone transcripts, the judge found no actionable misrepresentation by AC or other Plaintiff staff; statements were honest opinions or estimates, the Client Agreement allocated trading risk to the client and contained exclusion language; the broker acted reasonably and in accordance with the specific instructions he received in a rapidly falling market; defendants, experienced traders, bore the risk and judgment was entered for the Plaintiff for the debt and interest, with counterclaim dismissed.