Hong Kong Case Law: Decisions & Judgments

Topic

Accounting for trust funds

Legal area

Court

4 Mar 2022

CHOW SHU SOON AND ANOTHER v. NG FUK MING

Citation

[2022] HKCFI 565
Court

Court of First Instance
Case number

HCA2480/2017

On the balance of probabilities the court found the stated consideration of HK$600,000 was never paid and the 2009 Assignment created a resulting/bare trust in favour of the Deceased; the alleged HK$4,000,000 was held on trust for maintenance and the Defendant ceased payments from December 2015, creating arrears of HK$720,000; the Defendant's late application to amend the defence to plead contractual estoppel was dismissed as both late and futile; consequential orders follow.
17 Jan 2022

CREATIVE PROPERTY SERVICES CONSULTANTS LTD v. THE INCORPORATED OWNERS OF KING MING COURT

Citation

[2022] HKCFI 163
Court

Court of First Instance
Case number

HCA2478/2017

The Court held Defendant liable to pay the outstanding management fees of HK$6,025,724.92; the Defendant failed to prove that the Plaintiff retained the Defendant's documents or breached duties to deliver them up; however funds remaining in the manager's Hang Seng bank account are held on a Quistclose trust for the Defendant and the Plaintiff must account for and return the sums currently standing in credit; the two claims are distinct and not to be automatically set off against each other.
22 Dec 2004

CHEUNG KIM CHAU v. LAU LUEN AND OTHERS

Citation

CHEUNG KIM CHAU v. LAU LUEN AND OTHERS
Court

Court of First Instance
Case number

HCA1898/2002

Judge found plaintiff not credible and unable to prove expenditure beyond the agreed capital; accepted defendants' evidence that agreed total capital was $2,000,000 and that defendants had no obligation to contribute more; therefore plaintiff's claim for $2,043,650 and loss of profits and any wage claims failed; defendants' counterclaim likewise failed for lack of proof and impermissible late amendment; costs awarded largely to defendants (90%).
16 Jun 1969

CHAN SHU-GAR AND OTHERS v. CHAN BO-HING

Citation

CHAN SHU-GAR AND OTHERS v. CHAN BO-HING
Court

Court of First Instance
Case number

HCA1219/1966

The court refused summary judgment for $1.6 million because the defendant's admissions were made as part of conditional settlement negotiations and expressly contingent on a written agreement and withdrawal of the action, so the admissions could not be isolated and acted upon under O.27 r.3; however, because the claim involves an account the court ordered that accounts be taken under O.43.

Hong Kong Case Law

CHOW SHU SOON AND ANOTHER v. NG FUK MING

CREATIVE PROPERTY SERVICES CONSULTANTS LTD v. THE INCORPORATED OWNERS OF KING MING COURT

CHEUNG KIM CHAU v. LAU LUEN AND OTHERS

CHAN SHU-GAR AND OTHERS v. CHAN BO-HING