Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Disposition of trust assets

  • 4 Jan 2018

    RE X LTD

    Citation
    [2018] HKCFI 15
    Court
    Court of First Instance
    Case number
    HCMP1658/2017

    The court found the assets were trust property and that the applicant had taken reasonable steps to contact and identify beneficiaries; accordingly, under section 62 the court authorised sale or disposal of the unclaimed securities and dividends with proceeds paid into court, permitted delivery of share certificates to the Registrar after three months if unsold, allowed disposal of minimal/expired dividend cheques, and discharged the applicant from further obligations in respect of those assets.

  • 25 Nov 2013

    CHENG NGAR MAN, ANGELA, MELWANI v. VISHAL PRAKASH MELWANI

    Citation
    CHENG NGAR MAN, ANGELA, MELWANI v. VISHAL PRAKASH MELWANI
    Court
    Court of First Instance
    Case number
    HCA1817/2012

    The court held that the wife retained a 50% beneficial interest in the funds (resultant trust) when the trust was terminated and the funds were transferred; there was no evidence of gift or surrender by the wife and clause 6(a) of the 2008 will did not and could not divest her equitable interest; the treatment of the funds by the defendant thereby constituted a breach of trust and judgment was entered for the plaintiff with interest and costs.