27 Feb 2001
Re: YANG YEE KWAN, HENRY and Ex parte: FORTIS BANK ASIA HK, formerly known as GENERALE BELGIAN BANK
- Citation
- Re: YANG YEE KWAN, HENRY and Ex parte: FORTIS BANK ASIA HK, formerly known as GENERALE BELGIAN BANK
- Court
- Court of First Instance
- Case number
- HCB1512/2000
The 12 August 1997 Guarantee remained effective; the 16 November 1999 letter did not replace it; the bank was contractually entitled to call in the facilities; there was no evidence of any settlement by Choy affecting the bank's rights; the sale price was not shown to be below market so the debt remained proved; accordingly a bankruptcy order should be made against the debtor.