18 Jan 2008
PACIFIC ELECTRIC WIRE & CABLE CO LTD v. TEXAN MANAGEMENT LTD AND OTHERS
- Citation
- PACIFIC ELECTRIC WIRE & CABLE CO LTD v. TEXAN MANAGEMENT LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA2203/2004
On the established facts — PEWC provided or was ultimately liable for the funds used to acquire the disputed assets and the acquisitions were concealed and effected in breach of fiduciary duties by former directors — equity imposes both resulting and constructive trusts over those assets in favour of PEWC; defendants failed to adduce credible evidence of an arguable defence, limitation is postponed for concealment, and summary judgment is appropriate with tracing and proprietary remedies subject to the precise form of orders to be settled.