TANG YING LOIV
1. TANG YING IP alias TANG YING YIP
2. YEUNG FOOK MUI
3. TRI STRONG INVESTMENT LIMITED
T died intestate. D1, one of the administrators of T’s estate, purchased a property using estate funds to cover around 40% of the purchase price, without informing P, one of the beneficiaries of the estate. Soon after completion of the purchase, D1 repaid the money to the estate, with interest at a rate that he selected, labelling the transaction as a loan. Later, when the property’s value had increased, P became aware of D1’s actions and brought proceedings to recover the profit made by him.
Mr Robert Ham QC, Mr Denis Chang SC and Ms Candy Chan, instructed by Wong, Hui & Co., for the 1st & 3rct Defendants (Appellants). Mr Brian Green QC and Mr Benjrunin Chain, instructed by Pansy Leung Tang & Chua, for the Plaintiff (Respondent).