Read the full judgment text of HCIA 000003/1988 on BabelCite. This HCIA judgment was delivered on 21 November 1988.
1. Anyone who was living in Hong Kong in the middle of the last decade will remember the economic recession and the financial difficulties in which many people found themselves, and in particular the difficulties in which one of Hong Kong's leading hongs, Hutchison International Limited (Hutchison), found itself. In 1975, it was feared that Hutchison was on the verge of collapse. At that time, the Hong Kong and Shanghai Banking Corporation (the Bank) was a major creditor of Hutchison, having mad