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1. The plaintiff in this action, Mr. HO Man-fat, is a prominent Hong Kong business man, the proprietor of a well-known Chinese language newspaper published in the Colony. About the time of the events with which we are concerned he had been a member of the defendant club since the 24th March, 1952 and in the intervening years had owned a number of race horses which he ran at the race track owned by the defendant. On the 3rd January, 1976 a horse called "Seven Good" (one of seven race horses then