15 Jun 2006
FAR EAST STRUCTURAL STEELWORK ENGINEERING LTD (In Liquidation) v. BANK OF CHINA (HONG KONG) LTD
- Citation
- FAR EAST STRUCTURAL STEELWORK ENGINEERING LTD (In Liquidation) v. BANK OF CHINA (HONG KONG) LTD
- Court
- Court of Appeal
- Case number
- CACV348/2004
By majority the Court concluded the trust receipts and cargo receipts created an equitable charge/registrable security that did not fall within the statutory exception under the Bills of Sale Ordinance and therefore, being unregistered as a bill of sale, the charge was void; the bank also failed to prove that the debited sums were the traceable proceeds of the charged goods, so the debits constituted dispositions void under Companies Ordinance s182; appeal dismissed and order nisi for costs to the company.