US casino sues in bid to recover $770,000 loan
A CASINO in the United States has filed a writ with the Supreme Court here, seeking to recover a US$100,000 (about HK$772,600) loan from a Hong Kong man.
Trump Taj Mahal Associations, trading as Trump Taj Mahal Casino Resort, received the go-ahead from a New Jersey court to pursue the money owed by Cheung Kwok-chan before instituting action in Hong Kong.
According to the statement of claim, Trump Taj Mahal operates a casino hotel in Atlantic County and Mr Cheung was a customer there.
It is the plaintiff's case that on or about May 12 last year Mr Cheung was granted a loan of US$100,000.
In purported repayment of the loan, Mr Cheung allegedly issued a cheque for the same amount, drawn on First Union National Bank in favour of Trump Taj Mahal.
The statement said, however, that the cheque was dishonoured because of insufficient funds when presented at the bank.
As a result, the writ states, legal proceedings were instituted at the Supreme Court of New Jersey against Mr Cheung.
Final judgment by default - the sum of US$103,961, including interest - was granted to the casino on June 9 this year, plus US$200 costs.
No money has been forthcoming, the writ says.