Read the full judgment text of HCAL 49/2016 on BabelCite. This High Court CFI judgment was delivered on 10 June 2016.
1. The applicant was the owner of Kimberley Hotel (‘the Hotel’). He controlled the business through Regent National Enterprises Limited (‘RNEL’). In 2009, the applicant applied to Industrial and Commercial Bank of China (Asia) Limited (‘ICBC’) for a loan to finance the renovation project of the Hotel. The project was scheduled to commence in January 2010 with a total cost of $204.6 million [1] . A loan of $200 million was approved by ICBC exclusively for this renovation project. ICBC required