6 Apr 2001
LOW TUCK KWONG AND OTHERS v. DYNASTY LINE LTD.
- Citation
- LOW TUCK KWONG AND OTHERS v. DYNASTY LINE LTD.
- Court
- Court of First Instance
- Case number
- HCA9505/1999
When identifiable blocks of shares were transferred to the defendant without full payment and it would be unconscionable for the defendant to dispose of them, an equitable lien arises by operation of law over the whole block of each plaintiff's shares to secure the unpaid contractual price and interest; identification is determined at the time of transfer and unparticularised allegations of subsequent dealings or third party priorities do not defeat the lien as against the defendant in the absence of adequate evidence; accordingly plaintiffs are entitled to declaration of equitable lien and a…