RE CENTENARY ENTERPRISES COMPANY LTD

RE CENTENARY ENTERPRISES COMPANY LTD

The pre-conditions of section 52(1)(e) were satisfied: there was irrefutable evidence that Mrs Fong held the Subject Shares as trustee for the applicants, no substitute trustee had been appointed and no other person was entitled; it was therefore expedient for the court to exercise its statutory power to vest the Holy Island share in Centenary Enterprises and to appoint David Fong as sole trustee of the Holguin share.

Citation
[2025] HKCFI 1005
Parties
Applicant (beneficiary): Centenary Enterprises Company Limited; Applicant (beneficiary): Hip Shing Hong (Holdings) Company Limited; Trustee (deceased): Fong Tam Yuen Leung (Mrs Fong); Proposed Trustee: Fong Man Hung David (David Fong)
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
10 March 2025
Case Number
HCMP51/2025
Procedural Posture
Vesting Order and Appointment of Trustee Under Trustee Ordinance (originating Summons) / Ex Parte Hearing and Judgment on Originating Summons
Outcome
Applications granted
Legal Topics
Vesting Order, Appointment of Trustee, Declaration of Trust, Intestacy, Section 52 Trustee Ordinance
Source Language
EN
Trusts Probate and Administration Company Law Civil Procedure Vesting Order Appointment of Trustee Declaration of Trust Intestacy +1 more

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Parties

Centenary Enterprises Company Limited

Applicant (beneficiary)

Hip Shing Hong (Holdings) Company Limited

Applicant (beneficiary)

Fong Tam Yuen Leung (Mrs Fong)

Trustee (deceased)

Fong Man Hung David (David Fong)

Proposed Trustee

Procedural Posture

Vesting Order and Appointment of Trustee Under Trustee Ordinance (originating Summons) / Ex Parte Hearing and Judgment on Originating Summons

Legal Issues

  1. 1 Whether the court should exercise its power under section 52(1)(e) Trustee Ordinance to vest the right to transfer or receive dividends of the Subject Shares or appoint a trustee in place of a deceased trustee
  2. 2 Whether the pre-conditions of section 52(1)(e) are satisfied (proof of trustee status, identity of beneficiary, absence of other persons entitled)
  3. 3 Whether a proposed substitute trustee is suitable and whether it is expedient to make the appointments/orders

Ratio Decidendi

The pre-conditions of section 52(1)(e) were satisfied: there was irrefutable evidence that Mrs Fong held the Subject Shares as trustee for the applicants, no substitute trustee had been appointed and no other person was entitled; it was therefore expedient for the court to exercise its statutory power to vest the Holy Island share in Centenary Enterprises and to appoint David Fong as sole trustee of the Holguin share.

Court Disposition

Applications granted

Orders

  • Vesting one share in Holy Island Investment Company Limited in Centenary Enterprises Company Limited absolutely (HCMP 51/2025)
  • Appointment of Mr Fong Man Hung David as sole trustee of the one share in Holguin Enterprises Company Limited (HCMP 52/2025)