24 Mar 2017
MANULIFE (INTERNATIONAL) LTD v. WONG CHOU, JOHNNY
- Citation
- MANULIFE (INTERNATIONAL) LTD v. WONG CHOU, JOHNNY
- Court
- Court of First Instance
- Case number
- HCA1632/2012
The court held that Manulife failed to prove a binding longstanding company policy making up‑line managers liable for ADOR paid to down‑line agents, so recovery of ADOR pocketed by others was dismissed; however Manulife was entitled under the express chargeback rules and memos to claw back the MDOR sums and YEB advances actually received by Mr Wong because the premium tests were validly applied when defaults manifested early, and obligation to repay did not cease on termination; accordingly Mr Wong was liable to repay MDOR HKD 751,095 and YEB advances HKD 1,207,697, and Manulife was ordered t…