Hong Kong Case Law: Decisions & Judgments

Topic

Causation in equitable compensation

Legal area

Court

22 Nov 2019

IQ EQ (NTC) TRUSTEES ASIA (JERSEY) LIMITED AND ANOTHER v. BRUNO ARBOIT and RODERICK JOHN SUTTON AND ANOTHER

Citation

[2019] HKCFA 45
Court

Court of Final Appeal
Case number

FACV2/2019

Anti-Bartlett clauses in the Trust Deed effectively excluded any duty on the trustees to supervise or intervene in the company's investment decisions absent actual knowledge of dishonesty; Art 21 prescribes the standard for duties actually exercised but does not create a non-derogable supervisory duty; the courts below erred in treating after-the-event approvals as an assumed supervisory duty and in categorising the case as one of direct loss of trust property; if liability were sustained it would fall within negligent mismanagement (third category) where common law causation principles apply…
26 Apr 2019

BRUNO ARBOIT and RODERICK JOHN SUTTON AND ANOTHER v. DBS BANK (HONG KONG) LIMITED AND OTHERS

Citation

[2019] HKCFA 18
Court

Court of Final Appeal
Case number

FAMV117/2018

Leave to appeal was refused to the Plaintiffs because their questions were fact‑specific, contentiously framed and premised on upsetting concurrent factual findings (including findings about dishonesty and self‑dealing). Leave to appeal was granted to the Defendants on discrete, important legal questions concerning the duty (if any) of trustees to supervise or review delegated investment advisers under anti‑Bartlett trust terms, the effect of de facto supervisory roles, interpretation of expert foreign law evidence vis‑à‑vis document terms, the standard for directors who delegate investment m…
26 Apr 2019

IQ EQ (NTC) TRUSTEES ASIA (JERSEY) LIMITED AND ANOTHER v. BRUNO ARBOIT and RODERICK JOHN SUTTON AND ANOTHER

Citation

[2019] HKCFA 18
Court

Court of Final Appeal
Case number

FAMV126/2018

Leave to appeal by the Plaintiffs was refused because the questions were fact-specific, premised on upsetting concurrent factual findings, and did not raise issues of general importance; leave to appeal was granted to the Defendants on specified questions concerning trustees' supervisory duties under anti-Bartlett provisions, the nature and extent of such duties, the effect of de facto supervisory roles, interpretation of foreign law expert evidence, director standards when investment decisions are delegated, and the correct approach to assessing equitable compensation and causation; the appe…

Hong Kong Case Law

IQ EQ (NTC) TRUSTEES ASIA (JERSEY) LIMITED AND ANOTHER v. BRUNO ARBOIT and RODERICK JOHN SUTTON AND ANOTHER

BRUNO ARBOIT and RODERICK JOHN SUTTON AND ANOTHER v. DBS BANK (HONG KONG) LIMITED AND OTHERS

IQ EQ (NTC) TRUSTEES ASIA (JERSEY) LIMITED AND ANOTHER v. BRUNO ARBOIT and RODERICK JOHN SUTTON AND ANOTHER