25 Oct 2021
JOINT AND SEVERAL PROVISIONAL LIQUIDATORS OF HSIN CHONG CONSTRUCTION CO LTD (PROVISIONAL LIQUIDATORS APPOINTED) v. THE CHINESE UNIVERSITY OF HONG KONG AND OTHERS
- Citation
- [2021] HKCA 1581
- Court
- Court of Appeal
- Case number
- CACV474/2021
The Court held that the Provisional Liquidators were entitled to seek directions under s200(3) without prior sanction; where the contract expressly created a trust over retention monies the employer's right of deduction/set-off does not automatically negate that trust (Re Tout reconciled with Yew Sang), the retention monies identified by CUHK were held on trust for the respective NSCs and must be released to them, segregation is context-dependent and did not preclude a trust on the facts, non-retention monies form part of the company’s estate, and any direct payment by the employer after liqu…