12 Dec 2002
MART TREASURE INVESTMENT LTD. v. DAI SHU SHING AND OTHERS
- Citation
- MART TREASURE INVESTMENT LTD. v. DAI SHU SHING AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA905/2001
The 2nd and 3rd Defendants breached the professional duty of care owed to their client by failing to disclose material knowledge (the inflated purchase price and proposed payments), failing to verify or obtain proper authority for disbursements, and making payments contrary to the shareholders' instructions; those breaches caused the Plaintiff loss of $4,100,000 and justify judgment for that sum with interest and indemnity costs.