21 Sept 2018
LOANDEPOT.COM, LLC v. YINGCAI TECH LTD AND OTHERS
- Citation
- [2018] HKCFI 2172
- Court
- Court of First Instance
- Case number
- HCA950/2015
On the evidence the judge found the 7th defendant carried on a bona fide business, received the contested USD279,171.60 in the ordinary course as payment for goods, and did not have actual or constructive notice of Loandepot's prior proprietary interest; the facts known to her (including receipt via remitting agents/underground banking) did not give reasonable cause to suspect the transaction so as to require further inquiries, therefore she was a bona fide purchaser for value without notice and the plaintiff's claim failed.