22 Mar 1979
DAVID NG PAK SHING AND OTHERS v. LEE ING CHEE AND OTHERS
- Citation
- DAVID NG PAK SHING AND OTHERS v. LEE ING CHEE AND OTHERS
- Court
- Court of Appeal
- Case number
- CACV12/1978
The Court held the Fermay transaction was a sham insofar as it did not transfer the beneficial interest in the 15,000,000 San Imperial shares away from C.K. San; on the judge's findings the Syndicate members (Ng, Ives, Ho and Fermay) must be regarded as nominees holding the legal estate for C.K. San; however the New Rocky Agreement was effective in its construction to transfer beneficial interest to Rocky/its nominee (IPC) as an innocent contracting purchaser, and accordingly the appeal by IPC succeeded while the appeals of the Syndicate and Fermay were dismissed; garnishee relief was granted…