27 Jul 2018
ZHANG HONG LI AND OTHERS v. DBS BANK (HONG KONG) LTD AND OTHERS
- Citation
- [2018] HKCA 435
- Court
- Court of Appeal
- Case number
- CACV139/2017
The Court of Appeal upheld the trial judge’s findings that despite broad anti‑Bartlett clauses the trustees assumed a residual high‑level supervisory obligation which they breached by approving substantial AUD purchases, the USD100m credit increase and decumulator transactions without adequate enquiry; those breaches amounted to gross or flagrant negligence entitling the trustees’ successor to equitable compensation and repayment of specified wrongful charges and retained indemnity; claims against the bank and individual bankers for dishonest assistance were not established and the plaintiffs…