Read the full judgment text of FAMV5/2016 on BabelCite. This Court of Final Appeal judgment was delivered on 23 May 2016 before Mr Justice Ribeiro PJ, Mr Justice Tang PJ and Mr Justice Chan NPJ.
Civil procedure – locus standi – trust – beneficial ownership of shares – state-owned enterprise – PRC law – concurrent findings of fact – leave to appeal – Court of Final Appeal – The action concerned the beneficial ownership of a share in Praiseup Ltd held by the defendant on trust for VTI Shanghai, a state-owned enterprise. The plaintiff purchased VTI China's investments, including its investment in VTI Shanghai. The defendant challenged the plaintiff's locus standi, which was tried as a preliminary issue. To J, relying on expert evidence on PRC law, held that the plaintiff had locus standi. The Court of Appeal affirmed. The defendant applied for leave to appeal to the Court of Final Appeal. The Appeal Committee dismissed the application, noting concurrent findings of fact and no exceptional grounds for leave.
Legal issues: Locus standi to sue for return of trust share
Outcome: Application for leave to appeal dismissed.