Read the full judgment text of DCCJ 3317/2020 on BabelCite. This District Court judgment was delivered on 24 March 2022.
1. This is a money lender’s action in which the plaintiff, a registered and licensed money lender under the Money Lenders Ordinance (Cap.163), claimed against the defendant under a loan agreement and a personal loan agreement both made on 5 September 2014 ( “the Loan Agreements” ), pursuant to which the plaintiff advanced $1,200,000 to the defendant at the interest rate of 33.6% per annum. As the defendant had defaulted in his monthly repayment, the plaintiff claimed for repayment of the loan an
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