28 Jan 2010
LAM PO CHIU MARK v. ION GLOBAL (BVI) LTD AND OTHERS
- Citation
- LAM PO CHIU MARK v. ION GLOBAL (BVI) LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA4754/2003
The Put Option was not exercisable because Clause 13.02(b) required that the Warrant Certificate be duly issued prior to the Put Option Vesting Date but Clause 14.04 prescribed issuance on the same date, making compliance impossible. The court refused to imply a term to cure the drafting anomaly because implication would contradict express contractual wording and amount to judicial rewriting (rectification through the back door). Consequently the purported exercise of the Put Option was invalid and the claim failed.