Australia, April 27 -- New South Wales Land and Environment Court issued text of the following judgement on March 27:
1. By a Statement of Claim filed on 20 April 2020 ("SOC"), Tuo Lio (the "plaintiff") brought proceedings against Kin Lam (the "defendant") for breach of an agreement which the plaintiff alleged had been entered into between the plaintiff and the defendant on 14 May 2018 ("the Agreement").
2. In substance, the plaintiff was a guarantor under a loan agreement which was entered into on or around 3 June 2014 between the defendant and Hong Kong Jiayi International Trade Co Ltd ("Jiayi") ("Jiayi Loan Agreement"). Under the Jiayi Loan Agreement the defendant borrowed RMB 5 million. The defendant defaulted under the Jiayi Loan Agr...