15 Sept 2017
YU TAI YEE BERYL AND ANOTHER v. RARE EARTH BATTERY INTERNATIONAL HOLDING CO LTD AND OTHERS
- Citation
- YU TAI YEE BERYL AND ANOTHER v. RARE EARTH BATTERY INTERNATIONAL HOLDING CO LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCB4005/2012
On the admitted facts, documentary evidence and prior judicial findings, the court concluded the bankrupt was the beneficial owner of the four respondents; the transfer of the bankrupt's Mei Li share to Rare Earth within nine months of the bankruptcy petition for US$1 was a transaction at undervalue and was set aside under section 49; accordingly the shares were declared part of the bankrupt's estate and the 5th respondent was ordered to effect transfers to the Trustees.