TIN KWONG INTERNATIONAL ENTERPRISE CO LTD AND OTHERS v. SAN TUNG AND ANOTHER

TIN KWONG INTERNATIONAL ENTERPRISE CO LTD AND OTHERS v. SAN TUNG AND ANOTHER

On the balance of probabilities the documentary evidence (including the 1st defendant's own summary and PRC bank transfer applications) established that the Sums were beneficially owned by the plaintiffs; the 1st defendant received and held the Sums as trustee and breached his fiduciary duties in making the identified payments; the 2nd defendant knowingly assisted in certain breaches and is liable as constructive trustee for specified payments; accordingly judgment was entered for the plaintiffs for the identified sums with interest and costs.

Citation
TIN KWONG INTERNATIONAL ENTERPRISE CO LTD AND OTHERS v. SAN TUNG AND ANOTHER
Parties
1st Plaintiff: Tin Kwong International Enterprise Company Limited; 2nd Plaintiff: Maxy Oil & Gas Limited; 3rd Plaintiff: Geomaxima Holdings Company Limited; 1st Defendant: San Tung; 2nd Defendant: Hu Ying Xue
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
27 April 2005
Case Number
HCA7165/2000
Procedural Posture
Civil Action for Breach of Trust and Fiduciary Duties / Judgment After Trial
Outcome
Judgment for the plaintiffs against the defendants as specified below
Legal Topics
Constructive Trust, Breach of Fiduciary Duty, Accounting, Beneficial Ownership, Knowing Assistance
Source Language
EN
Trusts Equity Fiduciary Duty Commercial Law Civil Procedure Constructive Trust Breach of Fiduciary Duty Accounting +2 more

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Parties

Tin Kwong International Enterprise Company Limited

1st Plaintiff

Maxy Oil & Gas Limited

2nd Plaintiff

Geomaxima Holdings Company Limited

3rd Plaintiff

San Tung

1st Defendant

Hu Ying Xue

2nd Defendant

Procedural Posture

Civil Action for Breach of Trust and Fiduciary Duties / Judgment After Trial

Legal Issues

  1. 1 Whether the sums deposited into the 1st defendant's bank account were beneficially owned by the plaintiffs
  2. 2 Whether the 1st defendant held the sums on trust for the plaintiffs and breached fiduciary duties
  3. 3 Whether the 2nd defendant knowingly assisted in breaches and is a constructive trustee

Ratio Decidendi

On the balance of probabilities the documentary evidence (including the 1st defendant's own summary and PRC bank transfer applications) established that the Sums were beneficially owned by the plaintiffs; the 1st defendant received and held the Sums as trustee and breached his fiduciary duties in making the identified payments; the 2nd defendant knowingly assisted in certain breaches and is liable as constructive trustee for specified payments; accordingly judgment was entered for the plaintiffs for the identified sums with interest and costs.

Court Disposition

Judgment for the plaintiffs against the defendants as specified below

Orders

  • Judgment against 1st defendant for HK$1,309,659.89
  • Judgment against 1st defendant for HK$1,700,150.00