5 Feb 2008
FIRST LASER LTD v. FUJIAN ENTERPRISES (HOLDINGS) CO LTD AND ANOTHER
- Citation
- FIRST LASER LTD v. FUJIAN ENTERPRISES (HOLDINGS) CO LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA4414/2001
Applying the three-stage choice-of-law approach, the court characterised the dispute as rights and obligations under the sale contracts (sale of shares), adopted lex loci actus and identified Hong Kong as the proper law (closest and most real connection). Under Hong Kong law the First Laser Agreement was valid; the Plaintiff paid the full consideration; the 1st Defendant breached by selling FCL to JDS; the 1st Defendant held 51% beneficial interest on constructive trust for the Plaintiff and the 2nd Defendant (conduit) is a constructive trustee of 51% of proceeds. The Plaintiff is entitled to…