21 Aug 2020
LAU KOON YING MATTHEW, as the Executor of the estate of LAU YIU WING, deceased (“the Deceased”) v. LAU TARK WING AND ANOTHER
- Citation
- [2020] HKCFI 2107
- Court
- Court of First Instance
- Case number
- HCAP23/2013
The master erred in law and in the exercise of discretion by awarding compound interest: there was insufficient evidence that the defendants used the sums in a commercial or trading manner or otherwise put themselves in a position to attract a presumption of compounded profit, and the master misunderstood and misapplied the legal principle permitting compound interest in lieu of an account of profits. The appropriate remedy is simple interest; extension of time to appeal is granted limited to the ground attacking compound interest; other parts of the master's orders stand.