Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Asset tracing and valuation

  • 5 Jul 2023

    劉 對 唐及另一人

    Citation
    [2023] HKFC 75
    Court
    Family Court
    Case number
    FCMC5078/2020

    Court found on evidence that grandmother funded purchase and that husband and grandmother procured PRC proceedings without disclosing material facts and without making wife a party; the PRC judgment is not binding on the wife and cannot preclude her Hong Kong ancillary relief; the conduct amounted to a 'disposition' under s17 intended to defeat the wife's claim; the Shenzhen property is a matrimonial asset (court assessed two‑thirds attributable to marriage) and, applying the sharing/clean‑break principle and overall fairness, the court ordered the property sold with net proceeds divided equa…

  • 2 Apr 2019

    NSK v. KRW

    Citation
    [2019] HKFC 89
    Court
    Family Court
    Case number
    FCMC7594/2015

    Judge found the husbands establishment of the three trusts substantially undermined the wifes claim and, applying s.17 Cap 192 and the authorities, set aside the three declared trusts and included the trust shares and cash prima facie in the matrimonial pot; applied the sharing principle (50:50) notionally, ordered immediate equalisation lump sum of HK$3,282,910 payable on decree absolute, ordered 50% of net proceeds of sale of the husbands 614,067 HH Ltd shares to the wife upon sale, and ordered periodical payments of HK$100,000 per month from 1 April 2019 pending those lump sums; made an…

  • 22 Mar 2013

    SLA nee S v. HKL

    Citation
    SLA nee S v. HKL
    Court
    Family Court
    Case number
    FCMC7500/2010

    On the evidence and given the husband's non‑attendance and failure to rebut the s17(3) presumption, the court found the purported transfers were a sham in substance and that the husband remained the beneficial owner of the L&H shares; accordingly those shares are to be treated as part of the husband's assets and included in the matrimonial asset pool for ancillary relief, with valuation to be obtained for distribution purposes.