15 Jan 1985
JOSEPH HAYIM HAYIM AND ANOTHER v. CHITIBANK N.A. AND ANOTHER
- Citation
- JOSEPH HAYIM HAYIM AND ANOTHER v. CHITIBANK N.A. AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA652/1983
The trustee (Hongkong Bank Trustee Ltd) breached the trust after 1 June 1981 by failing to exercise its power to sell or properly postpone sale in light of the expressed wishes of the true beneficiaries (Joseph and George) and the absence of instructions from Citibank; the second plaintiff had locus standi because special circumstances and a substantial impediment to Citibank prosecuting the claim existed; relief under Trustee Ordinance s60 is not available because the paid trustee did not act reasonably (failed to seek court directions or legal advice and acted contrary to the Testator's exp…