17 Mar 2008
LEE CHEUNG CHING v. LOK HSIAO PEI, JOHN
- Citation
- LEE CHEUNG CHING v. LOK HSIAO PEI, JOHN
- Court
- Court of First Instance
- Case number
- HCA978/2004
On the balance of contemporaneous documents and credible witness evidence the court found the joint venture comprised 7 CP units and 6 IT units chosen on or about 24 March 1992, the agreed profit sharing was 30% (plaintiff) and 70% (defendant/Sun Co), the Sun Co bought out the plaintiff's 30% interest on 8 April 1993 ending the JV, CP units 2108 and 2109 were transferred as compensation for a separate proposed venture not as profit distribution, and subsequent payments totalling $17.5m were loans repayable by the plaintiff.