18 Jul 2005
WYCOMBE INVESTMENT LTD v. EDWIN LEONG SIU HUNG
- Citation
- WYCOMBE INVESTMENT LTD v. EDWIN LEONG SIU HUNG
- Court
- Court of First Instance
- Case number
- HCCL66/2004
Court found Wycombe was the correct plaintiff but the oral contract for the fund was with Tai Hung Fai Enterprises Ltd; there was no objective evidence that Leong assumed personal responsibility such as would displace limited liability, so Leong was not personally liable and the action must be dismissed. The court additionally found that, had Leong been held personally liable, his trading in late 1991 amounted to breach of the minimum standard of care for a fund manager (reckless over‑exposure), but the plaintiff's blanket claim for return of US$2,000,000 with compound interest could not be s…