27 Oct 2025
BIZSTAR GLOBAL LTD v. CHINA ON SECURITIES LTD (Formerly known as CHINA FUND SECURITIES LTD)
- Citation
- [2025] HKCFI 5122
- Court
- Court of First Instance
- Case number
- HCA68/2020
On the face of the RASOC the plaintiff established a strong and obvious proprietary claim: the placing agent owed fiduciary/trust duties, breached them by unauthorised disposal of the shares, and the net placing proceeds were traceable into the defendant's DBS account; the defendant filed no defence and did not attend, and the SFC did not oppose the orders so long as other claims were abandoned and its Section 213 proceedings were protected — accordingly the court entered default judgment, declared the 1st Defendant holds HK$55,522,800 on trust for the Plaintiff, ordered payment/transfer with…