12 Apr 2012
PACIFIC ELECTRIC WIRE & CABLE CO LTD v. HARMUTTY LTD AND OTHERS
- Citation
- PACIFIC ELECTRIC WIRE & CABLE CO LTD v. HARMUTTY LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCL18/2009
The court finds on the balance of the evidence (including contemporaneous swissfirst communications and fund-flow analysis) that the alleged Takeover Arrangement was fabricated and that Hu retained beneficial ownership through nominees; Hu breached fiduciary duties and must account, and nominees (Top Selection, Blinco BVI, Patagonia and downstream companies) hold shares and properties on constructive trust for PEWC; Limitation Ordinance s.20 prevents time‑bar in respect of fraud/concealment; accordingly declarations, transfers, accounts and inquiries are ordered and certain defendants' claims…