Read the full judgment text of HCA 008827/1998 on BabelCite. This High Court CFI judgment was delivered on 20 August 1999.
1. The plaintiff is a licensed money lender. It alleges that pursuant to an oral agreement made between Mr. Chi and Mr. Huang on behalf the plaintiff and Miss Zheng and Mr. Cheung on behalf of the defendant, the plaintiff agreed to lend the defendant a loan of $20 million for three months at an interest rate of 18% per annum. The loan was secured by a mortgage of 20 million share warrants of Pearl Oriental. The warrants were transferred in two lots of 10 million each from the account of Linkwise