4 Nov 2005
HEIBEI ENTERPRISES LTD AND OTHERS v. LIVASIRI & CO (a firm) AND OTHERS
- Citation
- HEIBEI ENTERPRISES LTD AND OTHERS v. LIVASIRI & CO (a firm) AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA20094/1998
Contemporaneous documents (including the 18/6/97 covering letter, official receipt and 16/9/97 auditor confirmation) established the plaintiffs authorised forwarding contributions to the 3rd defendant and knew of that firm's involvement, defeating the stakeholder claim; nevertheless the 1st defendant was negligent for failing to advise adequate protective measures (e.g. opening a 7th‑defendant bank account) and for not warning of risks, causing loss from misapplication of funds. The 1st defendant was liable in negligence for plaintiffs' loss of HK$35,800,000 and liable for the HK$800,000 resi…