Read the full judgment text of HCCW 001267/2004 on BabelCite. This High Court CFI judgment was delivered on 21 February 2005.
1. This is a petition presented against Weng Heng Investment Company Limited (“the Company”) by Umbrella Finance Company Limited. By a facility letter dated 23 March 2000, the Bank of China, Hong Kong branch, now the Bank of China (Hong Kong) Ltd (“the Bank”), granted a term loan to the Company to the extent of HK$60 million. Under Heads of Agreement dated 21 March 2002, the Company agreed to pay certain moneys to the Bank and executed documents in its favour. Two charges over securities were