19 Jul 2005
ESQUIRE (ELECTRONICS) LTD v. THE HONG KONG AND SHANGHAI BANKING CORPORATION LTD AND ANOTHER
- Citation
- ESQUIRE (ELECTRONICS) LTD v. THE HONG KONG AND SHANGHAI BANKING CORPORATION LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA11077/1994
On the evidence the court found that the Bank, acting as agent under a power of attorney, breached fiduciary duties by selling the property to a close associate in circumstances creating a real sensible possibility of conflict and without adequate disclosure; the Bank applied illegitimate pressure (including deliberate misstatements about indebtedness and threats of demand/liquidation) that was a significant cause of the plaintiff's surrender and left the plaintiff no realistic alternative (economic duress); the Bank exercised actual undue influence over a dependent customer; the facility wai…