A subsidiary of locally listed Gold-Face Holdings is being sued for more than $1 million in mortgage payments for two houses at the failed Villa Pinada real estate development in Tuen Mun. In a writ filed at the High Court, home buyer Stanley Cheung Tak-kwai claimed True Gold Investments had failed to assign him the two houses, in accordance with purchase agreements he signed in January and May 2002. Mr Cheung said he purchased the two houses under a special scheme for a total of $11.349 million. Under the scheme, Mr Cheung was entitled to a 30 per cent rebate of the total purchase price and True Gold would shoulder the mortgage payments for the first 48 months, according to the writ. In May 2003, True Gold told Mr Cheung that the company had been placed into the hands of receivers. In his writ, the plaintiff claimed the firm had failed to pay monthly mortgage repayments for the two properties since last November, totalling $1,009,500, as required under the agreements. Despite repeated written demands, True Gold had also failed to assign him the two houses, he said. Mr Cheung is seeking reimbursement of the mortgage payments, unless the sum is offset against the purchase price of the two houses, as well as unspecified damages.