31 Jan 2018
張才奎所託管中國山水投資有限公司股份相關員工 AND OTHERS v. 張才奎 AND ANOTHER
- Citation
- [2018] HKCFI 195
- Court
- Court of First Instance
- Case number
- HCA1564/2015
The court held that as a matter of Hong Kong and applicable Mainland factual/legal analysis the participating employees were the actual beneficial owners of the relevant CSI shares from 11 April 2005; the equitable interests vested in the employees (fixed trusts or proprietary rights) and could be inferred from the scheme, documents and conduct; the BVI discretionary trusts executed on 28 November 2005 could not defeat or retrospectively extinguish those pre-existing fixed equitable interests and were therefore ineffective as against the plaintiffs; the 2008 Confirmation did not constitute in…