3 Oct 2005
ALAN C.W. TANG, JOINT AND SEVERAL TRUSTEE IN BANKRUPTCH OF THE ESTATE OF LO SIU FAI LOUIS v. JOHN J. TOOHEY, JOINT AND SEVERAL LIQUIDATOR OF GLOBAL MARCH LTD
- Citation
- ALAN C.W. TANG, JOINT AND SEVERAL TRUSTEE IN BANKRUPTCH OF THE ESTATE OF LO SIU FAI LOUIS v. JOHN J. TOOHEY, JOINT AND SEVERAL LIQUIDATOR OF GLOBAL MARCH LTD
- Court
- Court of Appeal
- Case number
- CACV177/2004
The trustee failed to discharge the burden of proving on a balance of probabilities that the advances were personal to Lo rather than loans to the company; the liquidator's determinations as to Jade Point and Jumbo Trade were supported by the company records and available evidence; the equitable V.G.M. principle permits accounting for the void disposition in the admitted proof without requiring physical repayment; accordingly the Court dismissed the appeal and affirmed the liquidator's adjudications.