Read the full judgment text of HCSD 000002/1999 on BabelCite. This HCSD judgment was delivered on 28 July 1999.
1. A statutory demand was served on Lau Gai Cheung on 8th January 1999 for the sum of $9,806,979.29. He applied on 29th January 1999 to set that statutory demand aside. He put forward 2 grounds, namely, that the amount of the debt in question was disputed because two payments totalling $1.1 million had previously been paid and secondly, because he the security held by the International Bank of Asia Limited, the Respondent, was of a value exceeding the amount of the debt.