ANGEL LEE OI SHEUNG v. QUEENIE LEUNG WAI LING AND OTHERS

ANGEL LEE OI SHEUNG v. QUEENIE LEUNG WAI LING AND OTHERS

On the unchallenged evidence and sworn declarations of the 1st and 2nd defendants that they held the monies on trust for the plaintiff, the presumption of joint ownership arising from possession was rebutted; accordingly the court declared that the HK$10,000,000 in the safe deposit boxes belonged to the plaintiff absolutely and was held on trust for her and did not form part of the bankrupt estate of Peggy Choi Pik Kay.

Citation
ANGEL LEE OI SHEUNG v. QUEENIE LEUNG WAI LING AND OTHERS
Parties
Plaintiff: Angel Lee Oi Sheung; 1st Defendant: Queenie Leung Wai Ling; 2nd Defendant: Peggy Choi Pik Kay (a Bankrupt); 3rd Defendant: The Official Receiver, Trustee in Bankruptcy of the Bankrupt's Estate of Peggy Choi Pik Kay
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
4 May 2007
Case Number
HCMP2668/2006
Procedural Posture
Civil Miscellaneous Proceedings (originating Summons) / Determination (judgment on Originating Summons)
Outcome
Declaration granted that the HK$10,000,000 in safe deposit box nos. C2202 and C2204 belong to the plaintiff absolutely and are held upon trust for the plaintiff and do not form part of the bankrupt estate of Peggy Choi Pik Kay.
Legal Topics
Declaration of Trust, Presumption of Ownership of Money, Safe Deposit Box, Rebuttal of Joint Ownership Presumption, Bankrupt Estate Exclusion
Source Language
EN
Trusts and Equity Bankruptcy Property Law Bailment Declaration of Trust Presumption of Ownership of Money Safe Deposit Box Rebuttal of Joint Ownership Presumption +1 more

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Parties

Angel Lee Oi Sheung

Plaintiff

Queenie Leung Wai Ling

1st Defendant

Peggy Choi Pik Kay (a Bankrupt)

2nd Defendant

The Official Receiver, Trustee in Bankruptcy of the Bankrupt's Estate of Peggy Choi Pik Kay

3rd Defendant

Procedural Posture

Civil Miscellaneous Proceedings (originating Summons) / Determination (judgment on Originating Summons)

Legal Issues

  1. 1 Whether the HK$10,000,000 held in joint safe deposit boxes belonged beneficially to the plaintiff or to the joint renters
  2. 2 Whether the monies formed part of the bankrupt estate of the 2nd defendant Peggy Choi Pik Kay
  3. 3 Whether the presumption that possession of money indicates ownership was rebutted

Ratio Decidendi

On the unchallenged evidence and sworn declarations of the 1st and 2nd defendants that they held the monies on trust for the plaintiff, the presumption of joint ownership arising from possession was rebutted; accordingly the court declared that the HK$10,000,000 in the safe deposit boxes belonged to the plaintiff absolutely and was held on trust for her and did not form part of the bankrupt estate of Peggy Choi Pik Kay.

Court Disposition

Declaration granted that the HK$10,000,000 in safe deposit box nos. C2202 and C2204 belong to the plaintiff absolutely and are held upon trust for the plaintiff and do not form part of the bankrupt estate of Peggy Choi Pik Kay.

Orders

  • Declaration that the HK$10,000,000 cash in safe deposit box nos. C2202 and C2204 at Central Branch, Public Bank (Hong Kong) Limited belong to the plaintiff absolutely and are held on trust for the plaintiff and do not form part of the bankrupt estate of Peggy Choi Pik Kay