31 Mar 2022
YIP CHI KEUNG v. CHEUNG YUK FUNG
- Citation
- [2022] HKDC 266
- Court
- District Court
- Case number
- DCCJ306/2019
No Quistclose trust existed because the parties did not manifest an intention to deprive the defendants of free disposal of the funds; the arrangement was contractual to apply funds as company working capital and the monies were deposited into the 2nd defendant's account and mixed with general funds; on the accounting of expenditures the court found HK$79,618 of charges double‑counted or unexplained and an HK$18,000 shortfall, yielding judgment for the plaintiff against both defendants for HK$97,618 with interest and costs.