YOUNG CHI KIN ERIC v. The personal representatives of ZHONG XIAN WEN, deceased AND ANOTHER

YOUNG CHI KIN ERIC v. The personal representatives of ZHONG XIAN WEN, deceased AND ANOTHER

On uncontested documentary and witness evidence the court found the Deceased held the one issued ordinary share on trust for the Plaintiff since about 30 April 2012; the circumstances fell within s52(1)(e) of the Trustee Ordinance and it was expedient to vest the right to transfer the share in the Plaintiff; accordingly the declaration and vesting order were granted.

Citation
[2023] HKCFI 1783
Parties
Plaintiff: Young Chi Kin Eric; 1st Defendant: The personal representatives of Zhong Xian Wen, deceased; 2nd Defendant: Suen Ka Hei (intended administratrix of the estate of Zhong Xian Wen, deceased)
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
18 July 2023
Case Number
HCMP717/2021
Procedural Posture
Originating Summons (trusts) / Judgment Following Substantive Hearing
Outcome
Judgment for the Plaintiff; declaration that the Deceased and his estate held the sole issued ordinary share on trust for the Plaintiff and vesting of the right to transfer the share in the Plaintiff
Legal Topics
Declaration of Trust, Vesting Order, Beneficial Ownership, Trustee Ordinance S52, Letters of Administration
Source Language
EN
Trusts Probate Equity Company Law Declaration of Trust Vesting Order Beneficial Ownership Trustee Ordinance S52 +1 more

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Parties

Young Chi Kin Eric

Plaintiff

The personal representatives of Zhong Xian Wen, deceased

1st Defendant

Suen Ka Hei (intended administratrix of the estate of Zhong Xian Wen, deceased)

2nd Defendant

Procedural Posture

Originating Summons (trusts) / Judgment Following Substantive Hearing

Legal Issues

  1. 1 Whether the Deceased (and his estate) held the sole issued share in Crown World Investments Limited on trust for the Plaintiff
  2. 2 Whether the court should exercise its power under section 52(1)(e) of the Trustee Ordinance to vest the right to transfer the share in the Plaintiff given delay in grant of Letters of Administration

Ratio Decidendi

On uncontested documentary and witness evidence the court found the Deceased held the one issued ordinary share on trust for the Plaintiff since about 30 April 2012; the circumstances fell within s52(1)(e) of the Trustee Ordinance and it was expedient to vest the right to transfer the share in the Plaintiff; accordingly the declaration and vesting order were granted.

Court Disposition

Judgment for the Plaintiff; declaration that the Deceased and his estate held the sole issued ordinary share on trust for the Plaintiff and vesting of the right to transfer the share in the Plaintiff

Orders

  • Declaration that the Deceased held, and after his death his estate has been holding, the only one issued ordinary share in Crown World Investments Limited registered in the Deceased's name on trust for the Plaintiff and that this order is proof of the Plaintiff's legal and beneficial ownership in the share
  • The right to transfer the share is vested in the Plaintiff