Boom Time Holdings Ltd v Goldman Sachs International, Court of Appeal - Civil Division, February 06, 1998, [1998] EWCA Civ 169
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Boom Time Holdings Ltd v Goldman Sachs International, Court of Appeal - Civil Division, February 06, 1998, [1998] EWCA Civ 169
IN THE SUPREME COURT OF JUDICATURE QBCMI 97\l097\BIN THE COURT OF APPEAL (CIVIL DIVISION)ON APPEAL FROM THE HIGH COURTQUEEN'S BENCH DIVISION(MR JUSTICE COLMAN) Royal Courts of Justice Strand London W2A 2LL Friday 6th February l998 B e f o r e LORD JUSTICE WALLER LORD JUSTICE CHADWICK SIR BRIAN NEILL BOOM TIME HOLDINGS LIMITED Appellant v. GOLDMAN SACHS INTERNATIONAL Respondent (Handed down transcript of Smith Bernal Reporting Limited, l80 Fleet Street London EC4A 2HD Tel: 0l7l 42l 4040 Official Shorthand Writers to the Court) MR NEVILLE THOMAS and MR GREGORY MITCHELL QC (instructed by Messrs Kingsley Napier, London EClM 4AJ) appeared on behalf of the Appellant (Plaintiff).MR LAURENCE RABINOWITZ (instructed by Messrs Allen & Overy, London EC4M 9QQ) appeared on behalf of the Respondent (Defendant). J U D G M E N T (As approved by the court) ©Crown CopyrightLORD JUSTICE CHADWICK: This is an appeal from the judgment of Colman J given on l7 February l997 in which he construed certain provisions in an OTC Options Master Agreement made between the defendants, Goldman Sachs International ("Goldman Sachs"), and the plaintiffs, Boom Time Holdings Limited ("BTH").Goldman Sachs trades in equity derivatives in the major markets; including in particular, in Hong Kong. On 8 November l995 Goldman Sachs sold to BTH, a company resident in the British Virgin Islands, a call option in respect of 35 million shares of HK$O.l0 each in Pearl Oriental Holdings Limited ("POH"), a company incorporated in Bermuda. The POH shares were listed on the Hong Kong Stock Exchange. The sale was recorded in a Confirmation of the same date which was itsel...See the full content of this document
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