Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Fifo tracing rule

Legal area

Court

2 Aug 2024

DONALD SIDNEY DOBKIN v. HUNG WING FUNG

Citation

[2024] HKDC 1216
Court

District Court
Case number

DCCJ1733/2022

Although change of position is legally available where the defendant received no benefit, the defendant's affirmation was evidentially insufficient to establish the defence; accordingly conditional leave to defend was granted only if the defendant paid HKD1,971,742.28 into court within 56 days, failing which judgment for the specified sums, interest and costs would be entered and a declaration of ownership was made in favour of the plaintiff.
15 Aug 2022

RPB SA (a company incorporated in accordance with the laws of Argentina) v. HEALTHY FOOD LTD AND OTHERS

Citation

[2022] HKCFI 2541
Court

Court of First Instance
Case number

HCA399/2020

The court found the Stolen Funds were held on constructive trust by the fraudulent initial recipient (HRJ) and that the entire D19 receipts (US$220,800) were traceable; applying FIFO, only US$182,360.31 of the D16 receipt was traceable to the stolen funds and none of the sums remained in the defendants' accounts for proprietary relief, so proprietary claims failed. Nevertheless, unjust enrichment in restitution was established prima facie against D19 for US$220,800 and against D16 for US$182,360.31 (subject to a cap to avoid double recovery) because their enrichment consisted of property in w…