RE HIP SHING HONG (HOLDINGS) COMPANY LTD

RE HIP SHING HONG (HOLDINGS) COMPANY LTD

The statutory pre-conditions of s52(1)(e) were satisfied on the evidence (clear declarations of trust, applicants as sole beneficiaries, absence of other entitled persons) and it was expedient to exercise the court's vesting and appointment powers: therefore the court granted vesting of the Holy Island share to Centenary Enterprises and appointed David Fong as trustee of the Holguin share.

Citation
[2025] HKCFI 1005
Parties
Applicant/beneficiary: Centenary Enterprises Company Limited; Applicant/beneficiary: Hip Shing Hong (Holdings) Company Limited; Company (subject Share): Holy Island Investment Company Limited; Company (subject Share): Holguin Enterprises Company Limited; Trustee (deceased): Fong Tam Yuen Leung (Mrs Fong); Proposed Trustee/executor: Fong Man Hung David (David Fong)
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
10 March 2025
Case Number
HCMP52/2025
Procedural Posture
Trustee Vesting Application (trustee Ordinance S52) / Ex Parte Originating Summons; Judgment on Application
Outcome
Applications granted
Legal Topics
Vesting Orders Under Trustee Ordinance, Declaration of Trust, Appointment of Trustee, Intestacy, Representation of Executors
Source Language
EN
Trusts Probate and Administration Company Law Equity Vesting Orders Under Trustee Ordinance Declaration of Trust Appointment of Trustee Intestacy +1 more

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Parties

Centenary Enterprises Company Limited

Applicant/beneficiary

Hip Shing Hong (Holdings) Company Limited

Applicant/beneficiary

Holy Island Investment Company Limited

Company (subject Share)

Holguin Enterprises Company Limited

Company (subject Share)

Fong Tam Yuen Leung (Mrs Fong)

Trustee (deceased)

Fong Man Hung David (David Fong)

Proposed Trustee/executor

Procedural Posture

Trustee Vesting Application (trustee Ordinance S52) / Ex Parte Originating Summons; Judgment on Application

Legal Issues

  1. 1 Whether the court may exercise its power under section 52(1)(e) of the Trustee Ordinance to vest the right to transfer or receive dividends in the beneficiaries or to appoint a trustee where the sole trustee died without appointing a substitute
  2. 2 Whether the pre-conditions of s52(1)(e) are satisfied by the evidence (existence of declaration(s) of trust, identity of beneficiaries, absence of other persons entitled)
  3. 3 Whether it is expedient to appoint Mr Fong Man Hung David as trustee over the Holguin share

Ratio Decidendi

The statutory pre-conditions of s52(1)(e) were satisfied on the evidence (clear declarations of trust, applicants as sole beneficiaries, absence of other entitled persons) and it was expedient to exercise the court's vesting and appointment powers: therefore the court granted vesting of the Holy Island share to Centenary Enterprises and appointed David Fong as trustee of the Holguin share.

Court Disposition

Applications granted

Orders

  • HCMP51/2025: Order pursuant to Trustee Ordinance (Cap.29) s52(1)(e) vesting the one share in Holy Island Investment Company Limited in Centenary Enterprises Company Limited absolutely.
  • HCMP52/2025: Order pursuant to Trustee Ordinance (Cap.29) s52(1)(e) appointing Mr Fong Man Hung David as sole trustee of the one share in Holguin Enterprises Company Limited and vesting the rights to transfer and receive income in him.