28 Jul 2020
NICHOLAS V.A. SCHEBEK-FUERSTENBERG v. YIP WAI SANG AND ANOTHER
- Citation
- [2020] HKCFI 1618
- Court
- Court of First Instance
- Case number
- HCA221/2017
Plaintiff failed to prove fraud or unconscionable conduct by Zenia; the Memorandum did not establish that HKD 2.8m was held on trust or subject to a Quistclose trust and plaintiff therefore had no prima facie proprietary or restitutionary claim against the defendants; D1’s receipt was tainted by an illegal loan arrangement (excessive interest under MLO) so his bona fide purchaser defence failed, whereas D2 established he was a bona fide recipient acting as intermediary for a legitimate loan and his defence succeeded; accordingly claims dismissed against both defendants with consequential cost…