Read the full judgment text of HCA 000595/2008 on BabelCite. This High Court CFI judgment was delivered on 9 February 2009.
1. On 23 August 2005, the plaintiff, Pearldelta, invested HK$20 million in Huge Winners by way of a convertible bond. I accept Mr Carolan’s submission that a convertible bond is not a loan, but a form of an investment in a company in the nature of a security which gives the holder the right to convert, or exchange the par amount of the bond for common shares of the issuer at a fixed ratio during a particular period.
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