CHUNG PUI TAK AND ANOTHER v. TAM CHI LEUNG NOLAN AND OTHERS

CHUNG PUI TAK AND ANOTHER v. TAM CHI LEUNG NOLAN AND OTHERS

P2 validly elected not to pursue further account or damages and, on the trial findings, is entitled to have specific unverified and unjustified payments restored by orders for payment against the defendants in specified amounts totalling HK$7,096,720.04; limitation arguments were not permitted at this stage as...

Source-derived case information.

Citation
[2022] HKCFI 3038
Parties
1st Plaintiff: CHUNG PUI TAK; 2nd Plaintiff: FINE GROUP PAPER PRODUCT LIMITED; 1st Defendant: TAM CHI LEUNG NOLAN; 2nd Defendant: BEST TRI PRINTING COMPANY LIMITED; 3rd Defendant: FINE GROUP TRADING LIMITED
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
30 September 2022
Case Number
HCA1439/2012
Procedural Posture
Account/equitable Compensation for Breach of Fiduciary Duty / Judgment (relief and Order)
Outcome
Judgment for plaintiffs in part: payment orders made in respect of specified unverified/unjustified items totaling HK$7,096,720.04 with interest; costs to plaintiffs to be taxed if not agreed.
Legal Topics
Account of Profits, Surcharge/falsifying Account, Breach of Fiduciary Duty, Limitation, Remedies, Costs, Mareva Injunction
Source Language
en
Equity Company Law Fiduciary Duties Civil Procedure Account of Profits Surcharge/falsifying Account Breach of Fiduciary Duty Limitation +3 more

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Parties

CHUNG PUI TAK

1st Plaintiff

FINE GROUP PAPER PRODUCT LIMITED

2nd Plaintiff

TAM CHI LEUNG NOLAN

1st Defendant

BEST TRI PRINTING COMPANY LIMITED

2nd Defendant

FINE GROUP TRADING LIMITED

3rd Defendant

Procedural Posture

Account/equitable Compensation for Breach of Fiduciary Duty / Judgment (relief and Order)

Legal Issues

  1. 1 Whether P2 was limited to an account/inquiry or entitled to an order for payment to make good unverified/unjustified payments (falsify/surcharge)
  2. 2 Whether limitation barred claims for payment in respect of the Items
  3. 3 Whether P2 suffered loss justifying payment orders or whether loss lay with related entity Hui Guang

Ratio Decidendi

P2 validly elected not to pursue further account or damages and, on the trial findings, is entitled to have specific unverified and unjustified payments restored by orders for payment against the defendants in specified amounts totalling HK$7,096,720.04; limitation arguments were not permitted at this stage as belated; certain items were not ordered because loss lay with Hui Guang or were uncertain; interest ordered at 1% above HSBC prima rate from writ to judgment and judgment rate thereafter; costs to plaintiffs.

Court Disposition

Judgment for plaintiffs in part: payment orders made in respect of specified unverified/unjustified items totaling HK$7,096,720.04 with interest; costs to plaintiffs to be taxed if not agreed.

Orders

  • TAM CHI LEUNG NOLAN do pay P2 the sum of HK$15,000 (management fees)
  • FINE GROUP TRADING LIMITED do jointly and severally pay P2 the sum of HK$1,239,490.32 (management fees)