Loan recovery: China Sky CEO wins second suit

A HIGH COURT judge has ruled in favour of China Sky CEO Ling Yew Kong in a second suit filed by him to recover a $330,000 loan payment still owing to him by a business associate under an earlier $730,000 settlement.

In awarding summary judgment to Mr Ling, High Court Judicial Commissioner (JC) George Wei noted that the business associate, Richard Teo Vin Li, had failed to show that the settlement was "tainted by illegality" or was premised on illegal circumstances, and therefore unenforceable.

"There was no finding by any court that Mr Ling was in fact running an illegal junket operation or that he was otherwise in breach of, or caught by the provisions of the Casino Control Act, the Moneylenders Act or the Civil Law Act," JC Wei said in a 48-page judgment released yesterday.