Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Misapplication of trust funds
  • 26 Jan 1999

    LEE TAK YEE AND ANOTHER v. LEE TAK YAN

    Citation
    LEE TAK YEE AND ANOTHER v. LEE TAK YAN
    Court
    Court of First Instance
    Case number
    HCA10000/1998

    Because the defendant, a fiduciary, paid fiduciary monies to a family company he controlled without any explanation for not placing the funds in a trust bank account, the plaintiffs were entitled to an injunction and an order requiring those sums (plus interest) to be paid into a trust account; absent such an explanation the defendant had not shown an arguable defence.