VOLUME XIX  No. 91 T H U R S D A Y April 27, 2017
   


 

LOUDONG  GENERAL  NICE RESOURCES  (CHINA)  HOLDINGS LTD:
FORMER  CHAIRMAN  APPEARS  TO  BE  IN
MORE  THAN  A  SPOT  OF  BOTHER

 

The former Chairman of Loudong General Nice Resources (China) Holdings Ltd (樓東俊安資源[中國]控股有限公) (Code: 988, Main Board, The Stock Exchange of Hongkong Ltd) has been sued in the High Court of the Hongkong Special Administrative Region (HKSAR) of the People’s Republic of China (PRC) by Industrial and Commercial Bank of China (Asia) Ltd (中國工商銀行[亞洲]有限公), (hereinafter referred to as the ‘Plaintiff’).  

Mr Cai Sui Xin (蔡穗新) is the Second Defendant in Miscellaneous Proceedings, Number 874 of 2017, lodged in the HKSAR High Court on April 13, 2017. 

The other three Defendants to this Action are:

General Nice Development Ltd
(
俊安發展有限公)
First Defendant
Cai Sui Rong (蔡穗) Third Defendant
Tsoi Ming Chi (蔡明) Fourth Defendant

In the Recital, contained on Page One of this Action, it is stated:

‘AND IN THE MATTER of the property comprised in a Mortgage dated 16 November 2004 made between (i) the Mortgagor TSOI MING CHI (蔡明志); (ii) the Borrower GENERAL NICE DEVELOPMENT LIMITED (俊安發展有限公司); and (iii) the Lender INDUSTRIAL AND COMMERCIAL BANK OF CHINA (ASIA) LIMITED (中國工商銀行(亞洲)有限公司) (merged with BELGIAN BANK) and registered in the Land Registry by Memorial No. UB9412860;

 

‘AND IN THE MATTER of a Guarantee dated 15 November 2004 executed jointly and severally by CAI SUIXIN (蔡穗新) and CAI SUIRONG (蔡穗榕) in favour of INDUSTRIAL AND COMMERCIAL BANK OF CHINA (ASIA) LIMITED (中國工商銀行(亞洲)有限公司) (merged with BELGIAN BANK) to secure the indebtedness owed due and/or payable by GENERAL NICE DEVELOPMENT LIMITED (俊安發展有限公司) to INDUSTRIAL AND COMMERCIAL BANK OF CHINA (ASIA) LIMITED (中國工商銀行(亞洲)有限公司);

 

‘AND IN THE MATTER of an application for an Order for possession and payment by INDUSTRIAL AND COMMERCIAL BANK OF CHINA (ASIA) LIMITED (中國工商銀行(亞洲)有限公司) 

The Plaintiff is seeking, inter alia: 

‘1.    Payment of all monies due to the Plaintiff under the respective covenants contained in:

 

(a)   a Mortgage dated 16 November 2004 made between (i) the Mortgagor TSOI MING CHI (蔡明志); (ii) the Borrower GENERAL NICE DEVELOPMENT LIMITED (俊安發展有限公司); and (iii) the Lender INDUSTRIAL AND COMMERCIAL BANK OF CHINA (ASIA) LIMITED (中國工商銀行(亞洲)有限公司) (merged with BELGIAN BANK) and registered in the Land Registry by Memorial No. UB9412860; and

 

(b)   a Guarantee dated 15 November 2004 executed jointly and severally by CAI SUIXIN (蔡穗新) and CAI SUIRONG (蔡穗榕) in favour of INDUSTRIAL AND COMMERCIAL BANK OF CHINA (ASIA) LIMITED (中國工商銀行(亞洲)有限公司) (merged with BELGIAN BANK) to secure the indebtedness owed due and/or payable by GENERAL NICE DEVELOPMENT LIMITED (俊安發展有限公司) to INDUSTRIAL AND COMMERCIAL BANK OF CHINA (ASIA) LIMITED (中國工商銀行(亞洲)有限公司);

 

‘2.    Delivery of vacant possession by the 4th Defendant to the Plaintiff of the mortgaged properties referred to in Schedule I and Schedule II herein below;

 

‘3.    Costs on a full indemnity basis to be taxed if not agreed; and

 

‘4.    Further or other relief.

 

SCHEDULE I

 

‘ALL THOSE 25 equal undivided 4,231st parts or shares of and in ALL THOSE pieces or parcels of ground respectively registered in the Land Registry as THE REMAINING PORTION OF SUBSECTION 2 OF SECTION G OF INLAND LOT NO.609A, THE REMAINING PORTION OF SECTION G OF INLAND LOT NO.609A, SECTION A OF SUBSECTION 2 OF SECTION G OF INLAND LOT NO. 609A, SUBSECTION 1 OF SECTION F OF INLAND LOT NO.609A, THE REMAINING PORTION OF SECTION F OF INLAND LOT NO.609A, SECTION A OF INLAND LOT NO.609A, SECTION B OF INLAND LOT NO.609A, SECTION C OF INLAND LOT NO.609A, THE REMAINING PORTION OF INLAND LOT NO.609A, THE REMAINING PORTION OF SECTION A OF INLAND LOT NO.609D, THE REMAINING PORTION OF SUBSECTION 1 OF SECTION A OF INLAND LOT NO.609D, INLAND LOT NO.3398, SUBSECTION 1 OF SECTION E OF INLAND LOT NO.609A, SECTION A OF SUBSECTION 1 OF SECTION G OF INLAND LOT NO.609A, THE REMAINING PORTION OF SUBSECTION 1 OF SECTION G OF INLAND LOT NO.609A AND THE REMAINING PORTION OF SECTION E OF INLAND LOT NO.609A And of and in the messuages erections and buildings thereon known as “NING YEUNG TERRACE” (“the Building”) Together with the sole and exclusive right and privilege to hold use occupy and enjoy ALL THAT FLAT C on the SIXTEENTH FLOOR of BLOCK A of the Building which said Flat is also known as Flat C on 16th Floor of Block A, Ning Yeung Terrace, No.78 Bonham Road, Hong Kong.

 

SCHEDULE II

 

‘ALL THOSE 60 equal undivided 10,000th parts or shares of and in ALL THOSE pieces or parcels of ground respectively registered in the Land Registry as THE REMAINING PORTION OF MARINE LOT NO.297, THE REMAINING PORTION OF MARINE LOT NO.305, THE REMAINING PORTION OF MARINE LOT NO.308, THE REMAINING PORTION OF MARINE LOT NO.309, THE REMAINING PORTION OF MARINE LOT NO.310 AND MARINE LOT NO.525 And of and in the messuages erections and buildings thereon now known as “WAYSON COMMERCIAL BUILDING (威勝商業大廈)” (“the Building”) Together with the sole and exclusive right and privilege to hold use occupy and enjoy ALL THOSE UNITS “9” and “11” on the TWENTY-FOURTH FLOOR of the Building which said Units are also known as Unit No.9 on 24th Floor, Wayson Commercial Building, No.28 Connaught Road West, Hong Kong and Unit No.11 on 24th Floor, Wayson Commercial Building, No.28 Connaught Road West, Hong Kong.’

 

About Mr Cai Sui Xin

 

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