Skyline Credit Limited 信嘉財務有限公司
Skyline Credit Ltd v Leung Hing Chung
HK Court of First Instance, 23-Jan-2019
A HK$1.8m loan is unenforceable, due to a classic arranger scam which extracted fees of $830k, leaving the interest rate on the net loan at well over the 60% p.a. legal limit. Deputy Judge William Wong SC writes, in relation to the law firm involved: "I am of the view that the irresistible inference is that KB Chau knew that the Plaintiff and Lamto were acting in concert. It appears to me that KB Chau did facilitate the collusion…I find the conduct of KB Chau merits investigation."
HK Court of First Instance, 23-Jan-2019
A HK$1.8m loan is unenforceable, due to a classic arranger scam which extracted fees of $830k, leaving the interest rate on the net loan at well over the 60% p.a. legal limit. Deputy Judge William Wong SC writes, in relation to the law firm involved: "I am of the view that the irresistible inference is that KB Chau knew that the Plaintiff and Lamto were acting in concert. It appears to me that KB Chau did facilitate the collusion…I find the conduct of KB Chau merits investigation."
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