15 Sept 2021
LAU KOON YING MATTHEW, as the executor of the estate of LAU YIU WING, deceased (“the Deceased”) v. LAU TARK WING AND ANOTHER
- Citation
- [2021] HKCA 1349
- Court
- Court of Appeal
- Case number
- CACV509/2020
Court held that award of compound interest depends on evidence or a safe presumption of the nature and extent of profit made by fiduciary or his agents; applied principles to facts and (1) affirmed judge’s award of simple interest for Sale Proceeds because no sufficient basis to presume compound returns, and (2) reinstated Master’s award of compound interest for Rental Proceeds because companies collecting rents carried on property business and in absence of disclosure it was proper to presume retention and use as working capital warranting compound interest.