31 Jan 2018
張才奎所託管中國山水投資有限公司股份相關員工 AND OTHERS v. 張才奎 AND ANOTHER
- Citation
- [2018] HKCFI 195
- Court
- Court of First Instance
- Case number
- HCA623/2015
The court held that the participating employees were the actual contributors and beneficial owners of the relevant interests; when CSI shares were transferred to the management on 11 April 2005 the equitable (beneficial) interests vested in the employees as fixed/identifiable beneficial interests under Hong Kong law; the BVI discretionary trusts executed on 28 November 2005 could not validly resettle those assets to the detriment of the employees and are ineffective against them; the 2008 Confirmation did not amount to informed ratification of discretionary trusts; accordingly the trustees (Z…