29 Oct 2008
CHEUNG PUI YUEN AND OTHERS v. WORLDCUP INVESTMENTS INC. AND OTHERS
- Citation
- CHEUNG PUI YUEN AND OTHERS v. WORLDCUP INVESTMENTS INC. AND OTHERS
- Court
- Court of Final Appeal
- Case number
- FACV34/2007
The Court held the 1985 handing-over and related evidence established complete and irrevocable gifts of the Worldcup and Profit-taking bearer shares to Madam Chin (she acquired beneficial ownership in 1985 and legal title was perfected by 1996 exchange to registered shares); the Doran share issued to Madam Chin on its face belonged to her and was not held on resulting trust for the deceased. The Disputed Debts were time-barred and no enforceable debts remained. Assets of the companies and subsidiaries were owned by those companies and not held on resulting trust for the estate. On costs, proc…