20 Oct 2009
TALLMANY ENTERPRISES LTD v. PROSTEN TECHNOLOGY HOLDINGS LTD AND ANOTHER
- Citation
- TALLMANY ENTERPRISES LTD v. PROSTEN TECHNOLOGY HOLDINGS LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA669/2009
The court held that the defendants failed to procure repayment of the Trade Debts and that non‑recovery amounted to a material breach constituting an Event of Default under the bond instruments; clauses 5.4 and 5.6 were construed as cumulative remedies available to the plaintiff, the defendants' alleged waiver/estoppel was rejected as unsupported and unbelievable, delay did not bar relief, and therefore summary judgment was entered for the plaintiff against both defendants for specified sums with interest and costs.