9 Dec 2011
C Y FOUNDATION GROUP v. CHENG CHEE TOCK & OTHERS
- Citation
- C Y FOUNDATION GROUP v. CHENG CHEE TOCK & OTHERS
- Court
- Court of First Instance
- Case number
- HCMP680/2011
The court held that CYF could not trace the HK$9,306,500 after it was paid into Madam Yung's overdrawn bank account because the payment merely reduced her liability to the bank (consumed the funds) and did not create a new identifiable asset in her hands; the bank would be a bona fide purchaser for value without notice; accordingly there was no proprietary right capable of protection by an interlocutory proprietary injunction and the application was dismissed.