HSU BENG v. LEUNG TSE KIN and Others

HCA014698/1996

 

IN THE HIGH COURT OF HONG KONG

COURT OF FIRST INSTANCE

Action No. 14698 of 1996

______________

 

BETWEEN
	HSU BENG	Plaintiff
	AND
	LEUNG TSE KIN	1st Defendant
	LEUNG HANG	2nd Defendant
	HO KWAI SIM	3rd Defendant
	KUTMING LIMITED	4th Defendant
	LEUNG TSE HO	5th Defendant

______________

 

Coram: Anthony To, Deputy Master

Date of hearing: 16 July 1997

Date of delivery of judgment: 18 July 1997

_______________

J U D G M E N T

_______________

The 3rd and 5th Defendants misappropriated $191,125 belonging to the Plaintiff and applied the money for the purpose of paying deposit, partial consideration, stamp duty and legal fee for the purchase of a property which was later sold at a profit. The plaintiff sought to recover the said $191,125 together with its inflated value by reason of the purchase of the property. Upon the defendants' default, judgment was entered against them by Mr. Registrar Betts. The matter is now before me for assessment of damages.

2. Mr. Wong on behalf of the Plaintiff argued that a resulting trust over the property was created by reason of the Defendants applying the Plaintiff's money towards the purchase of property and the Plaintiff is entitled to a share in the appreciation in the price of the property when the property was sold. However, for practical reasons, Mr. Wong abandoned his argument and was content to have damages assessed without the benefit of the appreciation in the value of the property. Accordingly I assess the Plaintiff's damage to be $191,125 and awarded him this damages plus interest at judgment rate from 26 May 1989 until payment.

( Anthony To ) Deputy Master

Representation:

Plaintiff: Represented by Mr. C.M. Wong of Leung Chan & Pang

Defendants: Absent