Industry WIKI

The Clearing House Automated Transfer System (CHATS) is a real-time gross settlement (RTGS) system for the transfer of funds in Hong Kong. It is operated by Hong Kong Interbank Clearing Limited (HKICL), a limited-liability private company jointly owned by the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks. Transactions in four currency denominations may be se

Hang Seng Credit Card Ltd v Tsang Nga Lee [2000] 3 HKLRD 33 is a landmark decision of the Court of First Instance of Hong Kong in which Yam J held that a clause in a credit card agreement obliging a defaulting cardholder to pay, on a full indemnity basis, all costs and expenses incurred by the card issuer in enforcing the agreement was unconscionable under the Unconscionable Contracts Or