NG CHUN CHIU v. YIP MAU LUK AND ANOTHER

HCA 9936/1999

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

ACTION NO. 9936 OF 1999

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J U D G M E N T

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1. This is an action on a promissory note in the sum of $3.5 million dated 2nd September 1994 made under seal by the 1st and 2nd Defendants in the presence of Ms Amy W Y Lam, a solicitor.

2. On 15th July 1998 the solicitors for the Plaintiff demanded repayment of the $3.5 million referred to in the promissory note and the said sum has not been repaid. The Plaintiff claims against both Defendants for that sum.

3. In respect of the 1st Defendant, the Plaintiff also claims interest at a contractual rate of 2.5% per month from the 1st December 1996.

4. The Plaintiff and Amy Lam have given evidence before me and I accept their evidence. The Defendants have filed no witness statements nor have they attended the trial.

5. I, according, give judgment against the 1st and 2nd Defendants in the sum of $3.5 million. I order that the 1st Defendant pay interest on that sum at 2.5% per month from 1st September 1996 until today and thereafter at judgment rate until payment.

6. I order that the 2nd Defendant pay interest on the $3.5 million at judgment rate from 15th July 1998 until payment.

7. I order that the Plaintiff's costs of this action be taxed and paid by the Defendants.