- Instructor: Rita Cheung
Date: 30 October 2023 (Monday) Time: 9:30am-12:45pm Language: English Level: Elementary
Speaker: Dr. Rita Cheung, MCAL Solicitors LLP
Lawyer CPD Points: ACCA CPD / SFC CPT / Insurers’ CPD Pts: 3 Fee: HK$1,700
Highlight: Moneylending has spawned a wealth of case law. To combat ‘loan-sharking’ activities, the law sets the interest rate ceiling of 60 per cent per annum (as unlawful) and 48 per cent per annum (as presumed ‘extortionate’). But that is not all. This seminar discusses a trio of recent Court of Appeal decisions on the interplay of four interlocking sections: section 18 (form of loan memorandum); section 21 (early repayment); section 22 (illegal agreements); section 24 (prohibition of excessive interest rates).
- Protection against ‘extortionate’ loans
The lessons from Easy Fortune Property Limited v Yung Chun Him  HKCA 1055 for money lenders.
- The default interest conundrum
Can a money lender grant a series of loans? Honip Credit Limited v Leung Tak Sing Paul  HKCA 879
- Loan memorandum.
The section 18 loan memorandum (協議形式) has been described as the core of the protection of the money lending legislation: Emperor Finance Limited v La Belle Fashions Limited (2003) 6 HKCFAR 402 .
How far would a ‘defective’ loan memorandum strike down the loan?
- Forgery : The interplay of forgery and moneylending legislation: Ngan Pui Chi v Bao Quan  4 HKLRD 135,  HKCA 852
- Lawyer’s roles. : Credit One Finance Ltd v Yeung Kwok Chi  HKCFI 2450 (HCA 33/2016, 21 September 2020).