1 Jun 2006
SILVER STONE DEVELOPMENT LTD AND ANOTHER v. LAU KWONG CHING, JAMES AND OTHER
- Citation
- SILVER STONE DEVELOPMENT LTD AND ANOTHER v. LAU KWONG CHING, JAMES AND OTHER
- Court
- Court of First Instance
- Case number
- HCA2206/2000
Where a stockbroker and third parties transacted and transferred shares without the plaintiff's authority the acts constituted conversion; the initial Powers of Attorney were not operative to authorize the sales once the plaintiff opened an account governed by account opening forms naming the plaintiff's authorised signatory, so defendants 2, 3, 4 and 6 were liable for conversion and defendant 5 was liable under his guarantee; damages measured at market value on date of conversion less payments already made resulted in judgment of $15,438,000 against 2nd,3rd,4th and 6th defendants and $5,208,…