3 May 1978
U.D.I. (H.K.) LTD v. FANTANA LTD
- Citation
- U.D.I. (H.K.) LTD v. FANTANA LTD
- Court
- Court of First Instance
- Case number
- HCCW19/1976
The court held that on the facts the arrangement was an advance/loan secured by identifiable jewellery evidenced by trust receipts and not a partnership; the trust receipts were not 'bills of sale' within the Bills of Sale Ordinance because they were documents used in the ordinary course of business and were executed to record the applicant's equitable rights (and, on the evidence, executed prior to deposit), therefore the jewellery listed in AD-8 was held on trust for the applicant and must be declared the applicant's property; Partnership Ordinance provisions did not convert the applicant i…