30 Sept 2010
FUJIAN XUN JIE TELECOMMUNICATION TECHNOLOGY SERVICE LTD, XIAMEN BRANCH v. CHAN WAH TSANG DAVID
- Citation
- FUJIAN XUN JIE TELECOMMUNICATION TECHNOLOGY SERVICE LTD, XIAMEN BRANCH v. CHAN WAH TSANG DAVID
- Court
- Court of First Instance
- Case number
- HCA2451/2006
The Assignment effected an immediate transfer of Nanyang's beneficial interest in the 2,200,000 shares to the Plaintiff (an equitable assignment) so the Plaintiff had locus standi; the Defendant was holding the shares on trust for the Plaintiff from 22 July 2004, the Defendant's evidence of outstanding fees was rejected as fabricated and insufficiently proven, the Defendant breached trust by disposing of shares and misapplying proceeds and failing to account, and the appropriate remedy is an order for an account and payment of sums found due (with ancillary orders including transfer of any re…