UNITED MERCHANTS FINANCE LTD v. KOWLOON COACH TOURS LTD AND ANOTHER

IN THE SUPREME COURT OF HONG KONG

HIGH COURT

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JUDGMENT

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1. The plaintiff and the 2nd defendant have agreed to judgment in favour of the plaintiff in terms of the judgment summons of 19th September 1990 on which interlocutory judgment was granted. The court orders accordingly.

2. The 2nd defendant guaranteed a hire purchase agreement for four motor vehicles between the plaintiff and the first defendant company. The first defendant has been in default throughout these proceedings.

3. At the initial hearing of this assessment, the plaintiff called evidence from an independent motor surveyor working for an auto adjusters bureau. He was a qualified man with around 20 years experience in his field. The plaintiff also called its debt collection supervisor to explain the breakdown of the expenditure incurred on the vehicles prior to their sale.

4. The first witness, the surveyor, discussed the basis of his valuation of each vehicle at $45,000.00. The debt collection supervisor explained the method by which bids were sought for the sale of the vehicles. I am satisfied with the evidence of both these witnesses and accept that the plaintiff has minimised its loss. I therefore grant judgment against the first defendant also for the amount and interest specified in the judgment summons of 19th September 1990. Costs are awarded against both defendants for today's hearing and for the adjourned hearing of 4th February 1991.