Read the full judgment text of HCA 008372/1994 on BabelCite. This High Court CFI judgment was delivered on 10 July 1995.
1. The Third Party, Malton House Ltd. ("Malton House"), did business in China. It owed the Hong Kong Bank ("the Bank") over US$2 million. This indebtedness had been guaranteed by the Plaintiff, Lark International Ltd. ("Lark"), which had a 60% controlling interest in Malton House. However, Malton House was not able to discharge its indebtedness to the Bank because its customers in China had been slow in paying their debts to Malton House. If the Bank called in Malton House's debt, Lark would hav
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