2 Dec 2016
FB MAITREYA FUND (IN OFFICIAL LIQUIDATION) v. YIU TSZ NGAR
- Citation
- FB MAITREYA FUND (IN OFFICIAL LIQUIDATION) v. YIU TSZ NGAR
- Court
- Court of First Instance
- Case number
- HCA1163/2015
The payments and transfers were prima facie misapplications of company assets procured by the defendant. The defendant succeeded in establishing a triable entitlement to fees totalling US$5,422,138.52 but failed to show that the settlement agreements, the Singapore proceedings, or the fact that payments were made to MIML defeated the plaintiff's claims. Accordingly there was no bona fide triable defence to prevent summary judgment, and judgment was entered for the plaintiff for the net recoverable sum after deducting the arguable fees entitlement.