Read the full judgment text of HCA 001245/1966 on BabelCite. This High Court CFI judgment was delivered on 19 July 1968.
1. In 1960 land values in Hong Kong had been rising steadily for a number of years; and between 1960 and 11th February 1965 there was a great deal of speculative dealing in landed property. Purchasers found no difficulty in persuading certain banks and individuals to advance a very high percentage of the purchase price of land on a first mortgage; and a purchaser could hardly fail to make a profit on a resale. The only question facing a speculator was when to resell. Of course, larger profits co