Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Quistclose trust (abandoned)

Legal area

Court

28 Jan 2021

MEGA HONOUR HOLDINGS LTD v. 李森田 AND OTHERS

Citation

[2021] HKCFI 149
Court

Court of First Instance
Case number

HCA1131/2015

The court found on the facts that the alleged representation was not proved, that Mr Wang acted for Nanye (so any alleged reliance by him was not attributable to the plaintiff), and that by 27 November 2014 the 2nd defendant had not evinced an intention not to be bound; accordingly the Agreement was not discharged by breach and the plaintiff's claims (misrepresentation and total failure of consideration) were dismissed.
23 Jun 2017

TIN LIK v. DEUTCHE BANK AG AND OTHERS

Citation

TIN LIK v. DEUTCHE BANK AG AND OTHERS
Court

Court of Appeal
Case number

CACV145/2016

Set-offs claimed by the Manager/Trustee were valid and proved: (i) the public announcements and audited/final results (prepared after independent investigations) qualified as conclusive certificates under the Letter Agreement and thus validated certified set-offs; (ii) the SPA clause 9B operated to waive the HK$50m dividend where repatriation (tax clearance) was impossible and that waiver was pleaded and established; (iii) the trial judge's factual inferences about Tin's knowledge were supportable and not disturbed on appeal; (iv) the Manager is not contractually liable for the Trustee's refu…