27 Feb 2009
PECONIC INDUSTRIAL DEVELOPMENT LTD v. LAU KWOK FAI AND OTHERS
- Citation
- PECONIC INDUSTRIAL DEVELOPMENT LTD v. LAU KWOK FAI AND OTHERS
- Court
- Court of Final Appeal
- Case number
- FACV17/2008
The Court held that non‑fiduciary dishonest assisters are not 'trustees' within s.20 of the Limitation Ordinance and thus may, in principle, rely on limitation; applying s.26, on the facts Peconic could with reasonable diligence have discovered Lau's participation in the fraud more than six years before issuing proceedings, so the appeals were dismissed and the defendants were entitled to the limitation defence and costs accordingly.