22 Mar 2011
WU SHENG LONG v. C-CORP PRECIOUS METALS LTD
- Citation
- WU SHENG LONG v. C-CORP PRECIOUS METALS LTD
- Court
- Court of First Instance
- Case number
- HCA1912/2008
Defendant sold plaintiff's silver without lawful right and is liable for conversion; no implied contractual or common law duties required defendant to monitor market or close positions; parties dealt as principals for London gold so no agent lien arose; equitable set-off unavailable because defendant wrongfully converted plaintiff's property; plaintiff entitled to market-value damages as of sale date (16 Oct 2008); defendant entitled to judgment on full deficit from liquidation but execution stayed for set-off pending assessment.