6 Nov 2003
EMPEROR FINANCE LTD v. LA BELLE FASHIONS LTD AND ANOTHER
- Citation
- EMPEROR FINANCE LTD v. LA BELLE FASHIONS LTD AND ANOTHER
- Court
- Court of Final Appeal
- Case number
- FACV6/2003
The Court allowed the appeal: it restored the Deputy Judge's findings that the Transfer was ratified by Madam Ng and that the Court of Appeal unjustifiably overturned primary findings of fact; Finance's operation did not constitute unlawful banking/taking deposits such as to deprive it of enforcement rights; s18 of the Money Lenders Ordinance can apply to corporate borrowers where the company's directing mind signs the memorandum, but Finance had committed two breaches (over-topping loans lacking s18 memoranda and use of a floating interest formula not expressed as a fixed perc ent rate); on…