21 Nov 2023
FIRST LASER LTD v. FUJIAN ENTERPRISES (HOLDINGS) CO LTD AND ANOTHER
- Citation
- [2023] HKCFA 39
- Court
- Court of Final Appeal
- Case number
- FAMV299/2023
Leave to appeal was refused. The CFA held the remitter was confined to the issue remitted — restitution under Mainland law consequent upon invalidity of the FLA — and the trial judge erred by admitting and determining a new nominee investment contract claim outside the remit and by awarding proprietary restitution based on enhanced share value. On Mainland law the correct remedy is return of the purchase price with net counter-restitution; the judge s large award was set aside and the remitted issue does not support the NIC-based result.