22 May 2019
TAO SOH NGUN (also known as LO TO LI KWAN or LO TO LEE KWAN) v. HSBC INTERNATIONAL TRUSTEE LTD
- Citation
- [2019] HKCFI 1268
- Court
- Court of First Instance
- Case number
- HCA3246/2016
Plaintiff failed to prove any binding common understanding or legitimate expectation to override the clear terms of the Trust Deed; the defendant acted bona fide within its absolute discretionary powers, legitimately took concentration risk into account as part of its duty of prudence, there was no proven controlling shareholding or control premium nor any real sensible possibility of conflict with the KSL Trust, and there was no evidence of wilful default or gross negligence — accordingly the plaintiff's claims were dismissed.