Read the full judgment text of CACV 000129/1984 on BabelCite. This Court of Appeal judgment.
1. Banque Nationale de Paris ("the Bank") is a bank whose head office is in Paris. It has several branches in Hong Kong, and a group account is prepared in respect of the business conducted by those branches. In the years 1977/78 and 1978/79 this business showed a profit, but that profit was not transmitted to Paris: instead, it was retained in Hong Kong and used by the business in Hong Kong in the production of profits for the following years. In the accounts for each of the following years t