8 Apr 2020
FIRST LASER LTD v. FUJIAN ENTERPRISES (HOLDINGS) CO LTD AND ANOTHER
- Citation
- [2020] HKCFI 495
- Court
- Court of First Instance
- Case number
- HCA4414/2001
On the remitted issue the court found that, on the factual matrix (the 1996 agreements, the 1998 memorandum and the parties' conduct), a collateral nominee investment relationship by conduct existed between First Laser (actual investor) and FEHC (nominee shareholder). That void nominee investment contract gave First Laser a PRC-law restitution remedy under Article 18: return of its investment money and a reasonable distribution of the enhancement in value (fruits including dividends and capital growth) measured by the equity value at sale (JDS US$60m). The court adjusted the distribution rati…