15 Sept 1999
IBI ASIA (SECURITIES) LTD. v. BANK OF CREDIT AND COMMERCE HONG KONG LTD. (IN LIQUIDATION)
- Citation
- IBI ASIA (SECURITIES) LTD. v. BANK OF CREDIT AND COMMERCE HONG KONG LTD. (IN LIQUIDATION)
- Court
- Court of First Instance
- Case number
- HCCL249/1995
The plaintiffs failed to prove on the balance of probabilities that a concluded agreement existed in the terms alleged; alternatively any such agreement would have been caught by section 76 of the Securities Ordinance and thus unenforceable; plaintiffs also failed to show recoverable loss given the uncertain assignment and FEB's liquidation; accordingly the action was dismissed with costs to the defendant.