Timothy Shaw

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Articles

The Hong Kong Court of Final Appeal considers principles of Quistclose trust

Jul 29, 2024 | lexology.com | Jojo Fan |Rachael Shek |Veronica So |Timothy Shaw |Cheryl Mok

The recent Court of Final Appeal (the "CFA") case of China Life Trustees Limited v China Energy Reserve and Chemicals Group Overseas Company Limited [2024] HKCFA 15 provides an authoritative and thorough analysis of the principles governing whether a Quistclose trust arises in relation to intra-group transfer of funds, highlighting potential pitfalls faced by creditors.
The Hong Kong Court Affirms That Victims Of Fraud's Concerns Over Dissipation Of Assets In Mareva Injunction Is Justified Notwithstanding LNCs In Place - White Collar Crime, Anti-Corruption & Fraud - Hong Kong

Jul 19, 2023 | mondaq.com | Gareth Thomas |Rachael Shek |Jojo Fan |Timothy Shaw

Following the Hong Kong Court of Appeal's decision in Tam Sze Leung & Ors v Commissioner of Police [2023] HKCA 537 (discussed in our previous blog post here), the constitutionality of "letters of no consent" (LNC) appears to be settled for the time being. The Court of Appeal held that the Police's issuance of LNCs did not amount to any informal, unregulated – and unconstitutional – asset freezing power.
Hong Kong court provides novel and influential analysis of the Quincecare duty

Apr 4, 2023 | lexology.com | Chris Bushell |Ceri Morgan |Gareth Thomas |Jojo Fan |Timothy Shaw

A judgment handed down by the Hong Kong Court of Final Appeal (CFA) provides some important analysis of the so-called Quincecare duty of care: PT Asuransi Tugu Pratama Indonesia TBK (formerly known as PT Tugu Pratama Indonesia) v Citibank N.A. [2023] HKCFA 3.
Hong Kong Court of Final Appeal clarifies a bank’s liability for transferring customer funds in breach of its quincecare duty of care before unauthorised closure of the account

Apr 3, 2023 | lexology.com | Gareth Thomas |Jojo Fan |Rachael Shek |Timothy Shaw

In PT Asuransi Tugu Pratama Indonesia TBK (formerly known as PT Tugu Pratama Indonesia) v Citibank N.A. [2023] HKCFA 3, the Hong Kong Court of Final Appeal (“CFA“) gave important guidance on a bank’s liability in the event it transfers funds out of a customer’s account without authority and the account is subsequently closed.