26 May 2000
KWOK YING LUNG v. KO CHI HUNG AND ANOTHER
- Citation
- KWOK YING LUNG v. KO CHI HUNG AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCMP209/1999
Apply the statutory method in Schedule 2 including appropriation under paragraph 1 to compute the effective annual percentage rate; expert calculations following Schedule 2 produce an effective rate of 66.38% p.a., which exceeds 60% and renders the loan agreement unenforceable under s.24 of the Money Lenders Ordinance; oral evidence is unnecessary to decide statutory unenforceability and ignorance of the law is not a defence.