6 Nov 2006
LIU PETER MAN LOK v. RICOFULL SECURITIES LTD
- Citation
- LIU PETER MAN LOK v. RICOFULL SECURITIES LTD
- Court
- District Court
- Case number
- DCCJ6703/2002
The court found as fact that Mrs Ho was an employee and had actual and ostensible authority to confirm executions and to receive client monies on behalf of the defendant; therefore the defendant was contractually obliged to account for or deliver the shares, vicariously liable for Mrs Ho's fraudulent representations, liable in negligence for deficient internal controls, and liable in trust to account for the misapplied funds; damages awarded equal the amount paid by the plaintiff, HK$829,260.84.