廈門新景地集團有限公司 v Eton Properties Limited 

[2024] HKCFI 1291 concerns the Plaintiff’s claim against the 1

 Defendants for breach of implied promise to perform an arbitral award, which ordered the 1

 Defendants to continue to perform an agreement (“

 Defendants agreed to sell their shareholding in the 4

 Defendant to the Plaintiff, in order for the Plaintiff to obtain the right to develop a piece of land in Xiamen (“

Upon a valid submission of the dispute to arbitration, there was an implied promise by the parties that they would honour the award obtained by arbitration (“

”). Previously, the Court held that the 1

 Defendants had breached the Implied Promise and awarded damages to the Plaintiff. In a judgment handed down on 14 May 2024, the Hon Madam Justice Mimmie Chan adjudicated on the proper approach in quantifying the damages. The Court held that the object of awarding damages is to put the Plaintiff, so far as money can do it, in the same situation as if the Implied Promise had not been breached and the arbitral award had been complied with.

On that basis, the Court held that damages should be assessed on the basis that the Plaintiff would have been in a position to have obtained the shares in the 4

 Defendant and be entitled to obtain the earnings from the development of the Land. The Court would look at what the 5

 Defendant had made by way of profits from the development of the Land, and treat these as reflective of the profits which the Plaintiff would have been able to obtain and receive, if only the 1

 Defendants had been in the position to transfer the shares to the Plaintiff as envisaged by the Agreement.

, instructed by Anthony Siu & Co, acted for the Plaintiff; Benjamin Yu SC, 

, instructed by Mayer Brown, acted for the 1

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