Zhang De Long v Tea Yeok Kian: Loan Recovery Dispute
In a suit before the High Court of Singapore on 20 May 2013, Justice Andrew Ang ruled in favor of the plaintiff, Zhang De Long, against the defendant, Tea Yeok Kian, in a dispute concerning a loan. Zhang sought to recover the outstanding principal and interest from Tea. The court ordered Tea to repay the principal sum of NT$6,243,972 (Taiwan currency) with contractual interest at 1.2% per month from 19 July 2008 until repayment.
1. Case Overview
1.1 Court
High Court1.2 Outcome
Judgment for Plaintiff
1.3 Case Type
Civil
1.4 Judgment Type
Grounds of Decision
1.5 Jurisdiction
Singapore
1.6 Description
High Court case involving Zhang De Long and Tea Yeok Kian over a loan dispute. The court ruled in favor of Zhang, ordering Tea to repay the outstanding principal and interest.
1.7 Decision Date
2. Parties and Outcomes
| Party Name | Role | Type | Outcome | Outcome Type | Counsels |
|---|---|---|---|---|---|
| Zhang De Long | Plaintiff | Individual | Claim Allowed | Won | Ng Hweelon |
| Tea Yeok Kian | Defendant | Individual | Claim Dismissed | Lost | Leslie Yeo Choon Hsien |
3. Judges
| Judge Name | Title | Delivered Judgment |
|---|---|---|
| Andrew Ang | Judge | Yes |
4. Counsels
| Counsel Name | Organization |
|---|---|
| Ng Hweelon | Legal Clinic LLC |
| Leslie Yeo Choon Hsien | Sterling Law Corporation |
4. Facts
- The plaintiff, Zhang De Long, claimed he loaned money to the defendant, Tea Yeok Kian.
- The defendant signed a Loan Agreement acknowledging the debt.
- The plaintiff remitted funds from SCT Western's bank account to the defendant's wife's account.
- The defendant claimed the funds were a repayment of a previous loan from his wife to the plaintiff.
- The defendant transferred US$100,000 to Daweth Group Incorporation.
- The plaintiff claimed the transfer to Daweth was a partial repayment of the loan.
- The court found that the Loan Agreement was signed after the funds were remitted.
5. Formal Citations
- Zhang De Long v Tea Yeok Kian, Suit No 568 of 2011, [2013] SGHC 109
6. Timeline
| Date | Event |
|---|---|
| First remittance of US$282,145 made to Mdm Sim's UOB account. | |
| Second remittance of US$10,000 made to Mdm Sim's UOB account. | |
| Loan Agreement faxed to the plaintiff after execution by the defendant. | |
| Defendant transferred S$135,000 to Daweth Group Incorporation. | |
| US$98,606.91 transferred from Daweth to SCT Western. | |
| Start date for interest calculation on the loan. | |
| Action commenced by the plaintiff. | |
| Judgment given for the plaintiff. |
7. Legal Issues
- Breach of Contract
- Outcome: The court ruled in favor of the plaintiff, finding that the defendant breached the loan agreement by failing to repay the outstanding principal and interest.
- Category: Substantive
- Validity of Loan Agreement
- Outcome: The court found that a valid loan agreement existed between the parties, despite the defendant's claim that it was never performed.
- Category: Substantive
8. Remedies Sought
- Repayment of Principal
- Payment of Interest
- Costs
9. Cause of Actions
- Breach of Contract
- Recovery of Debt
10. Practice Areas
- Commercial Litigation
11. Industries
- No industries specified
12. Cited Cases
| Case Name | Court | Affirmed | Citation | Jurisdiction | Significance |
|---|---|---|---|---|---|
| No cited cases | |||||
13. Applicable Rules
| Rule Name |
|---|
| No applicable rules |
14. Applicable Statutes
| Statute Name | Jurisdiction |
|---|---|
| No applicable statutes | |
15. Key Terms and Keywords
15.1 Key Terms
- Loan Agreement
- Remittance
- Repayment
- Principal
- Interest
- SCT Western
- Advance SCT
- Daweth Group Incorporation
15.2 Keywords
- Loan
- Contract
- Repayment
- Breach
- Singapore
- High Court
16. Subjects
- Contract Dispute
- Loan Recovery
17. Areas of Law
- Contract Law
- Loan Agreement