Read the full judgment text of HCA 18300/1999 on BabelCite. This High Court CFI judgment was delivered on 24 October 2006.
1. In November 1996, the 2 nd defendant, Mr So opened an account for a margin loan facility in the name of the 1 st defendant, Mr Chan, with the 1 st plaintiff, China Everbright Finance Ltd (“CEF”), for the purpose of trading in securities with a related company, China Everbright Securities Ltd (“CES”). Trading was carried out, but then the value of the shares, which were pledged to CEF, dropped sharply in about October 1997. Mr Chan was called on to reduce the margin, but did not. CEF procee
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