23 Jun 2017
TIN LIK v. DEUTCHE BANK AG AND OTHERS
- Citation
- TIN LIK v. DEUTCHE BANK AG AND OTHERS
- Court
- Court of Appeal
- Case number
- CACV145/2016
Set-offs claimed by the Manager/Trustee were valid and proved: (i) the public announcements and audited/final results (prepared after independent investigations) qualified as conclusive certificates under the Letter Agreement and thus validated certified set-offs; (ii) the SPA clause 9B operated to waive the HK$50m dividend where repatriation (tax clearance) was impossible and that waiver was pleaded and established; (iii) the trial judge's factual inferences about Tin's knowledge were supportable and not disturbed on appeal; (iv) the Manager is not contractually liable for the Trustee's refu…