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HCA1104/2024
In the Matter of the Properties known as (i) The Whole First Floor, Second Floor and Third Floor, No. 13, 15, 17 and 19 Chung On Street and Nos. 38-40 Shiu Wo Street and In the Matter of the Mortgage dated 7 November 2016 Between The Hongkong and Shanghai Banking Corporation Limited and Yeung Fuk Kwong & Others
Case Details
Case ReferenceHCA1104/2024
CourtCourt of First Instance of the High Court 高等法院(原訟法庭)
Date Published2026-03-20
LanguageEnglish
NCN[2026] HKCFI 1608
Claimant / ApplicantThe Hongkong and Shanghai Banking Corporation Limited
Defendant / RespondentYeung Fuk Kwong, Young Fuk Ki Sarena (Executrix of Estate of Suen Wan Yuk), Everin (Hong Kong) Limited, New Loyal (Hong Kong) Limited
JudgesMr Recorder William Wong, SC
Claimant CounselMr Lau
Defendant CounselMr Wong SC
Defendant SolicitorsChristine F.L. Ip & Young
Judgment Summary
Facts
- •TWDF borrowed facilities secured by 4 mortgages dated 7 November 2016.
- •Outstanding liabilities were HKD445,256,913.27 as of 10 April 2025.
- •Bank demanded repayment on 10 July 2023.
- •Defendants claimed oral representation allowed free withdrawal of proceeds contrary to written terms.
- •1st Defendant affirmed terms in Facility Letter-8 in February 2021.
Issues
- •Validity of misrepresentation and mistake defences.
- •Whether Bank breached duty of good faith in demanding repayment.
- •Whether breach of advisory duty bars mortgage enforcement.
- •Appropriateness of stay or consolidation of proceedings.
Outcome
- •Misrepresentation and mistake defences dismissed.
- •Breach of good faith defence dismissed.
- •Mortgage Action proceeds to enforcement.
- •Advisory duty claims to be tried in HCA Action but do not stop summary judgment.
Implication
- •Written terms prevail over oral representations.
- •Affirmation bars rescission claims.
- •No set-off clauses enforceable against cross-claims.
- •Demand clauses enforceable even if borrower punctual previously.
Laws & Authorities Cited
- §Rules of the High Court, Cap. 4A, O.88 r.1
- §HSBC v King Wai Pieces Good Company Limited [2025] HKCFI 1371
- §Habib Bank Zurich (Hong Kong) Ltd v Tee Vee Brands International Ltd [2025] HKCFI 2100
- §But Ka Chon v Interactive Brokers [2019] 4 HKLRD 85
- §Have Result Finance Ltd v Chan How Chung Victor [2025] HKCFI 2611
- §Wong Ling Pan v Team Building Ltd [2021] HKCFI 336
- §DBS Bank (Hong Kong) Ltd v Honour Elite Corporation Ltd and Another [2026] HKCFI 401
- §CCMD Overseas Ltd v Sinom Investments Ltd [2025] HKCA 678
- §Woodeson v Credit Suisse (UK) Ltd [2018] EWCA Civ 1103
- §CF v SHK [2024] 5 HKC 303