Read the full judgment text of HCA 000158/1994 on BabelCite. This High Court CFI judgment was delivered on 28 November 1997.
1. This case demonstrates yet again the difficulties associated with a joint venture in China. On 16th October 1992, the Plaintiff orally agreed with the Defendant to sell to the Defendant at a price of $300,000 his 2,500 shares in Euroline Limited. These shares represented a 50% shareholding in that company. These shares also represented the Plaintiff's interest and investment in Longcheng Clocks & Watches Products Company Limited, a joint venture in China. Euroline was the foreign partner in t