Read the full judgment text of HCA 002190/1993 on BabelCite. This High Court CFI judgment.
1. The 1st Plaintiff(P1) is a director and shareholder of the 2nd Plaintiff (P2). P2 is an import-export company. Both Plaintiffs were customers of the Defendant which was ordered to be wound-up on 2nd March 1992. In order to secure credit facilities for P2, P1 charged his foreign currency deposits with the Defendant in favour of the Defendant. At the date of winding-up, those deposits were worth approximately HK$30m and credit facilities of some HK$22m had been extended to P2.