2 Sept 2024
HERO INVESTMENTS LTD v. TSANG KWONG CHIU KEVIN AND OTHERS
- Citation
- [2024] HKCFI 2029
- Court
- Court of First Instance
- Case number
- HCA1577/2018
The judge preferred Tsang’s coherent and corroborated evidence and rejected Hong’s account as inherently improbable and unreliable; accepted that a Service Agreement and a corollary Payment Agreement existed with CCCG (supported by CCCG’s default), that CCCG injected funds into Hero and that the Subject Sum was beneficially Tsang’s under the Payment Agreement; accordingly the withdrawals were authorised by the arrangement and not misappropriation; Hero’s claim was dismissed and Tsang’s counterclaim succeeded for declaration and orders in his favour.