19 Jul 2003
INFINITY DEVELOPMENT (HOLDINGS) CO LTD AND ANOTHER v. BANK OF CHINA AND OTHERS
- Citation
- INFINITY DEVELOPMENT (HOLDINGS) CO LTD AND ANOTHER v. BANK OF CHINA AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA3202/2001
The court struck out the Statement of Claim because the central allegations (the oral True Agreement and the February 1998 Agreement) were incredible, inconsistent with contemporaneous documents and prior pleadings, and would not support enforceable causes of action; the asserted breaches of the Shareholders Agreement were unsustainable given the board discretion, prior case law and the terms of the agreement; the conspiracy claim failed if the underlying contract claims failed; and the loan repayment claim lacked credible basis given repayment to CSS Bank and internal inconsistencies — cumul…