15 Sept 2021
LAU KOON YING MATTHEW, as the executor of the estate of LAU YIU WING, deceased (“the Deceased”) v. LAU TARK WING AND OTHERS
- Citation
- [2021] HKCA 1349
- Court
- Court of Appeal
- Case number
- CACV510/2020
The Court held that the judge was entitled to refuse compound interest in relation to the Sale Proceeds because there was no sufficient evidential basis to presume the Grandmother or Tark Wing derived commercial profits warranting compound interest, but reinstated the Master's award of compound interest for the Rental Proceeds because the rents were collected by two companies carrying on property investment/subletting business and, absent disclosure, it was a fair inference that the funds were retained and applied as working capital producing profits; accordingly compound interest was justifi…