5 Dec 2019
BEST YEAR ENTERPRISES LTD (in liquidation) AND ANOTHER v. POWER SECURITIES CO LTD (formerly known as JUN YANG SECURITIES CO LTD) AND ANOTHER
- Citation
- [2019] HKCFI 2920
- Court
- Court of First Instance
- Case number
- HCA1071/2019
On the pleadings taken at their highest, Sin's alleged losses are merely reflective of losses suffered by Best Year and/or EPL (the companies that held the First Credit shares) and therefore the claims are barred by the doctrine against recovery of reflective loss; the post-loss sale of Sin's company shares does not convert reflective loss into a distinct personal loss capable of recovery; moreover Sin is in privity with Best Year such that earlier summary judgment and related litigation give rise to res judicata and Henderson abuse of process; accordingly the counterclaim (RADCC) and the sta…