LAU KOON YING MATTHEW as the Executor of the estate of LAU YIU WING, deceased (“the Deceased”) v. LAU TARK WING AND ANOTHER

LAU KOON YING MATTHEW as the Executor of the estate of LAU YIU WING, deceased (“the Deceased”) v. LAU TARK WING AND ANOTHER

Defendant Lau Tark Wing failed to provide truthful, contemporaneous accounts and is liable to repay the Father's sale proceeds of HK$1,084,617 and amounts of rental proceeds as calculated by the Plaintiff; no deduction is allowed for construction costs absent proof; compound interest is appropriate for the period and sums to be determined; costs awarded to the Plaintiff for the taking of account.

Citation
[2019] HKCFI 995
Parties
Plaintiff; Executor of the Estate of Lau Yiu Wing (deceased): Lau Koon Ying Matthew; 1st Defendant: Lau Tark Wing; 2nd Defendant (executor): Lau Tark Wing (as executor of the estate of Tang Mei Ho); Defendant (company): Wing Hing Resources Limited; Defendant (company): Caba Resources Limited
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
29 April 2019
Case Number
HCAP23/2013
Procedural Posture
Probate and High Court Actions (taking of Account Post Trial) / Post Judgment Taking of Account Hearing
Outcome
Taking of account ordered; defendant liable to repay sale proceeds and rental proceeds as quantified in court's assessment; no credit for construction costs; compound interest awarded; costs to plaintiff
Legal Topics
Taking of Account, Breach of Trust, Breach of Fiduciary Duty, Compound Interest, Rental and Sale Proceeds Accounting, Construction Cost Deductions, Costs
Source Language
EN
Trusts and Fiduciary Duties Probate Equity Civil Procedure Remedies (account and Equitable Compensation) Taking of Account Breach of Trust Breach of Fiduciary Duty +4 more

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Parties

Lau Koon Ying Matthew

Plaintiff; Executor of the Estate of Lau Yiu Wing (deceased)

Lau Tark Wing

1st Defendant

Lau Tark Wing (as executor of the estate of Tang Mei Ho)

2nd Defendant (executor)

Wing Hing Resources Limited

Defendant (company)

Caba Resources Limited

Defendant (company)

Procedural Posture

Probate and High Court Actions (taking of Account Post Trial) / Post Judgment Taking of Account Hearing

Legal Issues

  1. 1 What are the principles governing a taking of account after a trial finding of breach of trust/fiduciary duty?
  2. 2 How were the Sale Proceeds dealt with and what sum is repayable to the Father's estate?
  3. 3 What are the gross Rental Proceeds received by defendants and what permissible deductions (if any) apply?

Ratio Decidendi

Defendant Lau Tark Wing failed to provide truthful, contemporaneous accounts and is liable to repay the Father's sale proceeds of HK$1,084,617 and amounts of rental proceeds as calculated by the Plaintiff; no deduction is allowed for construction costs absent proof; compound interest is appropriate for the period and sums to be determined; costs awarded to the Plaintiff for the taking of account.

Court Disposition

Taking of account ordered; defendant liable to repay sale proceeds and rental proceeds as quantified in court's assessment; no credit for construction costs; compound interest awarded; costs to plaintiff

Orders

  • An account to be taken of the Father's share of the Sale Proceeds and of Rental Proceeds in accordance with the court's findings
  • Defendant Lau Tark Wing to repay the Father's share of Sale Proceeds in the sum of HK$1,084,617 with interest to be determined (compound interest awarded)