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Baldwin Wong Kwok Learn & Shirley Wong Po Yee v International Trading Co Ltd
HK Court of Appeal, 4-Mar-2010
Shares in a property-owning firm owned by an accountant and his son (Baldwin Wong) had been fraudulently "sold" to nominees in 1969 to put the firm out of reach of litigation from a client bank which collapsed in 1965. The father had died, and his son and daughter wanted the shares back. "The plaintiffs recognized that the transfer of shares was carried out for an illegal or improper purpose, namely, to defraud creditors", said the Court of Appeal, but overturned the ruling below and granted their wish.
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