31 Mar 2023
FIRST LASER LTD v. FUJIAN ENTERPRISES (HOLDINGS) CO LTD AND ANOTHER
- Citation
- [2023] HKCA 465
- Court
- Court of Appeal
- Case number
- CACV97/2020
Appeal allowed. The Court of Appeal set aside the Remitter Judgment because the judge erred in finding a collateral nominee investment contract and in applying Provisions I Article 18 on that basis; the judge’s findings were inconsistent with earlier appellate and SPC determinations and unsupported by evidence; the alternative restitution award based on an expansive reading of 'fruits' and a principle of fairness was unjustified; accordingly the proper remedy is to restore parties to their pre‑contract position under Mainland law (return of purchase price net of what must be returned to FEHC)…