19 May 1999
WANBAO GROUP WASHING MACHINE INDUSTRIAL CORPORATION v. SINO-UNIVERSAL LTD. AND OTHERS
- Citation
- WANBAO GROUP WASHING MACHINE INDUSTRIAL CORPORATION v. SINO-UNIVERSAL LTD. AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA9560/1995
The court found on the facts that a joint venture existed by conduct from February 1988, that Plaintiff was entitled to 60% of profits and 80% beneficial interest in the suit property held in the Company’s name, that there was no condition precedent of PRC approval preventing the agreement from taking effect between the parties, that the joint venture was dissolved on 20 September 1995, and ordered an account and payment of sums found due (including declared US$460,165.66), while dismissing claims against Wong personally.