3 Dec 2007
TREASURE SPOT FINANCE CO LTD v. LI CHIK MING AND ANOTHER
- Citation
- TREASURE SPOT FINANCE CO LTD v. LI CHIK MING AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA5387/2001
Applying the wide discretion in ss.18(3) and 22(2), and balancing the parties' relative statuses, the nature of the breaches and the statutory protective purpose, the court partially enforced the loans: the 1st Defendant was ordered to repay a specified sum representing amounts advanced to redeem prior mortgages (HKD 1,113,044) without interest and released from repayment of the remainder; the 2nd Defendant, having not defended, was held liable for the three loans with interest at 40% p.a. for one year then judgment rates; costs ordered so each party bears own in respect of disputes between P…