22 Jun 2015
TAM MEI KAM AND OTHERS v. HSBC INTERNATIONAL TRUSTEE LTD AND OTHERS
- Citation
- TAM MEI KAM AND OTHERS v. HSBC INTERNATIONAL TRUSTEE LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA1856/2014
The Statement of Claim was struck out because (1) the 2005 Appointment Deeds validly appointed Lau and New Horizon as beneficiaries (indoor management rule and evidence of authorised signatories), (2) therefore unanimous consent of all beneficiaries to terminate the Karen Trust was absent and Saunders v Vautier did not apply, and (3) clause 33 of the Trust Deed was valid and had been upheld by appellate authority so the challenge to it was an abuse of process; accordingly the SoC disclosed no reasonable cause and was frivolous/vexatious and bound to fail.