5 Dec 2017
OSMAN MOHAMMED ARAB AND ANOTHER v. NG SHUI CHING, IRENE AND ANOTHER
- Citation
- OSMAN MOHAMMED ARAB AND ANOTHER v. NG SHUI CHING, IRENE AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA311/2014
On the balance of probabilities the court found the loans from Mrs Ng were genuine advances, the Declaration of Trust of 1 November 2009 conveyed beneficial interest in the 55% shares to Mrs Ng and the later transfer documents simply formalised that position; Mr Ng was solvent when the trust was created and the transfer was supported by consideration so there was no transaction at undervalue, no unfair preference and no intent to defraud creditors; the Vehicle was purchased with Mrs Ng's funds and held on trust for her; the Trustees' application to set aside the transfers was dismissed.