4 Nov 2016
LEO INNOTECH (HOLDING) LTD v. LEE SHUNG CHI
- Citation
- LEO INNOTECH (HOLDING) LTD v. LEE SHUNG CHI
- Court
- Court of Appeal
- Case number
- CACV170/2016
The court held that breach of s47A(1) did not prevent the company from recovering monies advanced where the recipient had received and had knowledge of the funds being for acquisition; on the evidence the defendant received the benefit, had knowledge and the defences were found to be unbelievable, so summary judgment was properly entered and the defendant was liable alternatively on the basis of constructive trust/knowing receipt.