8 May 2018
Hemu Trade Company Limited v Le [2018] NZHC 982
- Citation
- [2018] NZHC 982
- Court
- High Court
On the balance of probabilities the Court found that, except for the initial NZD 30,000 deposit, Wenheng funded the purchase and the Property was correctly recorded as a Wenheng asset; Wenheng transferred its beneficial interest to Hemu; the presumption of resulting trust therefore applied and was not rebutted; the defendant holds a 41% share on resulting trust for Hemu; there is no proprietary entitlement to rent or surplus and the fiduciary duty and deceit claims fail for lack of pleaded or proved loss and causation.