Read the full judgment text of HCA 004392/1993 on BabelCite. This High Court CFI judgment was delivered on 21 January 1994.
1. On 3rd July 1992, the Plaintiff and 1st Defendant entered an asset swap agreement (the Agreement). Under the Agreement, the Plaintiff sold a portfolio of shares to the 1st Defendant subject to an option to re-purchase those shares. The Plaintiff exercised the option and with effect from 1st November 1992 commenced making to the 1st Defendant the required monthly payments of some HK$326,000.00. A total of 5 such payments were made by way of drafts to the 1st Defendant, delivered to the 2nd Def
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