21 Nov 2008
YIP KWAI CHOR v. KING FUNG CONSTRUCTION WORK CO LTD AND ANOTHER
- Citation
- YIP KWAI CHOR v. KING FUNG CONSTRUCTION WORK CO LTD AND ANOTHER
- Court
- Court of Appeal
- Case number
- CACV381/2007
The Court of Appeal upheld the trial judge's findings of fact: the oral 50:50 profit-sharing agreement was proved; the five payments totaling HK$2,500,000 were not recoverable loans but payments made with the consent of the directors; Sing Yip was liable for HK$3,247,828 to the company; a number of company cheque payments were misapplied by Lau; Lau diverted the West Kowloon subcontract for secret profit; removal of Yip was unfairly prejudicial. The appeals were dismissed and the trial orders (including buy-out directions and payment orders) were affirmed.