26 Mar 2014
DBS BANK (HONG KONG) LTD v. IREWIN INDUSTRIAL LTD AND ANOTHER
- Citation
- DBS BANK (HONG KONG) LTD v. IREWIN INDUSTRIAL LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCMP2635/2012
Where interested parties with potential claims to the surplus are given opportunity but do not intervene to contest a prior encumbrancer's statutory entitlement, the mortgagee trustee is entitled to pay the surplus in accordance with section 54 CPO to the encumbrancers in priority; mere suspicion that a subsequent mortgage may be invalid does not oblige the trustee to pay into court or delay payment when no party seeks to invoke O.85 to determine entitlement; the trustee incurs no liability for acting under s54 in those circumstances.