2 Nov 2016
WONG LUNG v. THE CHINESE UNIVERSITY OF HONG KONG EMPLOYEES CREDIT UNION
- Citation
- WONG LUNG v. THE CHINESE UNIVERSITY OF HONG KONG EMPLOYEES CREDIT UNION
- Court
- Court of First Instance
- Case number
- HCA1122/2010
The claim was dismissed and the Engagement Agreement set aside because the plaintiff entered the contract in breach of strict fiduciary duties without informed consent of members, the agreement involved unlicensed regulated activities contrary to SFO s114 and was therefore unenforceable on public policy grounds, it was ultra vires the credit union's statutory powers, and was rescindable for misrepresentation; accordingly the defendant was entitled to repayment, an account of profits and costs.