Glories Faith Investment Ltd v. Bruce Ramsey Abbott

Case No.HCA 1087/2006
Court
High Court CFI
Date21 Jan 2008
Judge
Case Document
100%

HCA1087/2006

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

ACTION NO. 1087 OF 2006

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BETWEEN

  GLORIES FAITH INVESTMENT LIMITED Plaintiff
  and  
  BRUCE RAMSEY ABBOTT Defendant

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Before : Mr Recorder Shieh, SC in Court

Date of Hearing : 10-14 & 25 September 2007

Date of Judgment : 21 January 2008

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J U D G M E N T

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The dispute

1.In this action, the plaintiff (“Glories Faith”) claims repayment of a debt in the amount of HK$3,000,000.  The debt was allegedly incurred by the defendant (“Mr Abbott”) in an oral loan agreement allegedly made between Mrs Gloria Khin Khin Hla Green (“Mrs Green”) as lender and Mr Abbott as borrower in 2002.  Although Mrs Green was said to be the lender, by a Deed of Assignment dated 28 April 2006 she assigned the benefit of the loan to Glories Faith, a company owned and controlled by her.  Notice of assignment was given to Mr Abbott on 28 April 2006.

2.Mr Abbott does not dispute that he has received the benefit of HK$3,000,000 from Mrs Green (as will become clear later, not all of the HK$3,000,000 was paid to him : the bulk of the said HK$3,000,000 was in fact paid towards the purchase price and incidental expenses for a property acquired by Mr Abbott).  He does not dispute that he has received the Notice of assignment.  His case is that the HK$3,000,000 was a gift from Mrs Green, not a loan.  And in any event the doctrine of estoppel operates to preclude recovery of the loan (if there was one).

3.The primary issue in this case is, therefore, whether the HK$3,000,000 paid by Mrs Green in 2002 for the benefit of Mr Abbott was a loan, or a gift, or something else.  A secondary issue is whether, even if there was a loan, Mrs Green (and hence Glories Faith) is estopped from recovering it.

The background facts

4.Mrs Green owned and operated two companies by the name of McRink.  One is a Hong Kong company called McRink Surveyors Company Limited (“McRink HK”); the other is a BVI company called McRink Surveyors (BVI) Limited (“McRink BVI”). McRink HK was in the business of inspection and quality control.  Put very briefly, it provides services to clients by inspecting their products and ensuring that they were safe and had met the requisite quality and standards.

5.In March 1990 Mrs Green met Mr Abbott.  At that time Mr Abbott was working as Quality Manager for a UK company called Betacom plc (“Betacom”).  The context for Mrs Green’s encounter with Mr Abbott was that at the time Betacom wished to engage McRink HK as the inspection agency for Betacom.

6.Mrs Green became acquainted with Mr Abbott.  They started a joint venture business in December 1990 called Nerium Company Limited (“Nerium”).  Mr Abbott owned 51% of Nerium and Mrs Green owned the other 49%.  This joint venture last only about five months, and in May 1991 Mr Abbott sold his 51% shareholding to one Mrs Inez Anne Ewing and resigned as a director of Nerium.  According to Mrs Green, she and Mr Abbott “could not see eye to eye on several matters”.

7.During the period from 5 April 1990 to 10 June 1991, Mrs Green and Mr Abbott had an intimate personal relationship.  During this period Mr Abbott lived in Mrs Green’s apartment in Conduit Road.  Mrs Abbott moved out of Mrs Green’s Conduit Road apartment on 10 June 1991 and moved to a place in Robinson Road.  The time of the termination of the personal relationship coincided broadly with the end of the joint venture between them.

8.Then in November 1992, Mr Abbott moved into Mrs Green’s Conduit Road apartment again because at the time he was suffering from acute appendicitis and he needed a place to stay where care could be given to him.  Mrs Green’s Conduit Road apartment had a lot of space available.  There were also two maids.

9.Mr Abbott stayed in Mrs Green’s Conduit Road apartment until the end of 2002, when Mr Abbott moved into a property in a development in Kowloon called Central Park (near the Olympic Station).

10.The funds for the purchase of this property came from the HK$3,000,000 provided by Mrs Green (the subject matter of dispute in this action).

11.I should add that even though during this period Mr Abbott and Mrs Green lived “together”, it is common ground between the parties that this was not a romantic, intimate, or sexual relationship.  Mr Abbott lived in a separate room.  As Mr Abbott put it, they were companions and confidants.

12.Returning to the business side of things, starting from August 1993 Mr Abbott and his company namely BA Consultants Limited (“BA”) began to do consulting work for McRink HK.  For this, Mr Abbott/BA were paid a sum of HK$25,000 per month.  Later, this monthly fee was increased.  A bonus also came to be paid at the end of the year starting in 2000.  Further, in 2004 and 2005 McRink HK “paid” BA/Mr Abbott by providing them with “free inspections” — Mr Abbott had his own inspection business and his own clients, and from time to time McRink HK would make available its staff to provide services to Mr Abbott’s clients; Mr Abbott need not pay McRink HK for such services.  In effect, Mr Abbott/BA received payment “in kind” from McRink HK for their services.

13.Mr Abbott did not work full time for McRink HK.  He had other business activities, such as a telecom repair services business in the UK, a car alarm business in Hong Kong and a frozen food and prawn farming business in the Philippines.

14.For the purpose of his prawn business in the Philippines, Mr Abbott had borrowed money from Mrs Green.  This happened on more than one occasion.  These loans were not evidenced by any IOUs.  They remained unpaid to this date.  They are not claimed in this action.

15.To complete the picture about the Philippines, between 1995 and 2005 Mrs Green and Mr Abbott often spent their holidays in the Philippines.  In about 1996 they decided to purchase a house there as their future residence after their retirement.  They purchased a company called Demdikes Inc. (“Demdikes”).  This company held a piece of land in the Philippines.  The intended retirement home was to be built on this piece of land.  Mr Abbott and Mrs Green agreed to share the building expenses equally.  Construction work began in 1996.  Later, the building expenses became unaffordable to Mr Abbott and Mrs Green bought out his shares in Demdikes, though Mr Abbott continued to assist in checking the progress of the construction and arranging for financing of the building works.

16.In about September 2002 Mr Abbott and Mrs Green had a conversation about Mr Abbott’s intended purchase of a property.  The events leading to that conversation and the precise contents of that conversation are a matter of dispute between the parties.  I shall have to come back to that at a later stage of this judgment.  But the upshot of that conversation is that by a series of payments over October and November 2002, Mrs Green caused McRink HK to pay a total of HK$3,000,000 for Mr Abbott’s benefit.  A large part of the said HK$3,000,000 was paid directly towards the purchase price and incidental expenses of Mr Abbott’s purchase of a property at Flat H, 22nd floor, Tower 2, Central Park, Hoi Ting Road, Kowloon (“the Central Park Property”).

17.The breakdown of the payment of the said HK$3,000,000 is set out below :

Date Amount (HK$) Method of payment Payee/purpose
9 October 2002 HK$100,000 Cheque no.002875 of McRink HK’s account with Bank of America (“BOA”) Mr Abbott; for the purpose of paying the initial deposit.
17 October 2002 HK$183,300 BOA cheque no.002886 Simon Ho & Co., solicitors; for the purpose of paying the further deposit.
17 October 2002 HK$42,495 BOA cheque no.002887 Simon Ho & Co.; for paying other expenses.
11 November 2002 HK$2,549,700 BOA cheque no.002937 Simon Ho & Co.; for paying the balance of the purchase price.
14 November 2002 HK$5,000 BOA cheque no.002941 Simon Ho & Co.; for paying other expenses.
15 November 2002 HK$28,330 BOA cheque no.002938 Hong Kong Property Services (Agency) Limited; for paying estate agent’s commission.
21 November 2002 HK$91,175 BOA cheque no.002952 Mr Abbott; to make up the remaining balance of HK$3,000,000.
Total : HK$3,000,000    

18.At around the same time, Mrs Green caused three sums of money (HK$144,600, HK$188,990 and HK$2,602,800) totalling HK$2,936,390 to be paid for the benefit of Miss Angel Sam (“Miss Sam”) in connection with her purchase of a property at Flat C, 42nd floor, Tower 7, Banyan Garden, 863 Lai Chee Kok Road, Kowloon (“the Lai Chee Kok Property”).  Miss Sam is a long-serving employee of McRink HK.  According to Miss Sam, she moved into the Lai Chee Kok Property in March 2005.

19.Later, in late 2004, Mrs Green caused another sum of HK$63,630 to be paid to Miss Sam.  The total of the sums thus paid for the benefit of Miss Sam therefore became HK$3,000,000, which was the same as the total of the sums paid for the benefit of Mr Abbott.  A breakdown of these various payments is set out below :

Date Amount (HK$) Method of payment Payee/purpose
16 October 2002 HK$144,600 Cheque drawn on McRink’s account at BOA Miss Sam; for payment of 5% deposit for the purchase of the Lai Chee Kok Property.
16 October 2002 HK$188,990 Cashier Order issued by BOA Woo Kwan Lee & Lo; for payment of 5% deposit for the purchase of the Lai Chee Kok Property, stamp duty and disbursements.
12 November 2002 HK$2,602,800 Cashier Order issued by BOA Woo Kwan Lee & Lo; balance of purchase price for the Lai Chee Kok Property.
17 December 2004 HK$63,610 Cheque drawn on McRink HK’s BOA account Miss Sam; to make up the balance of HK$3,000,000
Total : HK$3,000,000    

20.The nature of these payments and the circumstances under which they were agreed to be made available are a matter of dispute.  Mrs Green and Miss Sam both say that these constituted a loan of HK$3,000,000 by Mrs Green to Miss Sam; Mr Abbott says that this was, like the HK$3,000,000 paid to him or for his benefit, a gift to Miss Sam.  I shall have to come back to this later.

21.After completing the purchase of the Central Park Property, Mr Abbott moved out of Mrs Green’s Conduit Road apartment and moved into the Central Park Property in December 2002.  But this was only a “parting” between Mrs Green and Mr Abbott in terms of places of residence : in terms of business Mr Abbott and BA continued to provide services to McRink HK; and there is nothing to suggest that the “companionship/confidant” type of relationship between the two of them has changed.

22.Also in around December 2002, Mrs Green caused 2 (out of 20) shares in McRink HK to be transferred to Mr Abbott.  Bought and sold notes and instruments of transfer were signed and dated 27 December 2002.  The Annual Return of McRink HK dated 29 March 2003 showed Mr Abbott to be the holder of 2 shares in McRink HK.  A company known as Eterna Financial Ltd (“Eterna”) was shown to be the holder of another 2 shares in McRink HK.  The remaining 16 shares were shown to be owned by Cocklesford (Holdings) Limited, a BVI company (there is no dispute that these 16 shares were in reality owned by Mrs Green).

23.The 2 shares in the name of Eterna represented a gift by Mrs Green to Miss Sam.  Both Miss Sam and Mrs Green testified that the gift was made in 1995.  However, the company registry records are slightly confused, in that in McRink HK’s annual return dated 29 March 1996, only 1 (but not 2) out of 20 shares was stated to be owned by Miss Sum.  This remained the case in the annual return dated 29 March 1999.  Then in the annual return dated 29 March 2000, 2 shares were stated to be owned by Eterna.  Eterna was a BVI company.  Mr Abbott’s counsel put it to Miss Sam that Mrs Green’s son and Miss Sam were shareholders; Miss Sam said that the shares were bearer shares and were kept in the safety deposit box of a company called Verity (Mrs Green’s private company).  Nothing much turns on who the shareholders were or where the share certificates were kept.  It is not disputed that these shares under Eterna’s name represented a gift to Miss Sam.

24.Both Mrs Green and Mr Abbott gave evidence that the 2 shares transferred to Mr Abbott in December 2002 represented a gift made by Mrs Green to Mr Abbott.  They are also in agreement in their evidence that the “transfer” would not take effect until after Mrs Green’s death.  A similar understanding existed in relation to the earlier gift of 2 shares to Miss Sam.  The share certificates for Miss Sam’s shares and for Mr Abbott’s shares were kept by Mrs Green.

25.Similar gifts were made of the shares in McRink BVI.  For the sake of convenience I shall only refer to the gift of the shares in McRink HK in the context of these gifts of shares.

26.The circumstances under which the gift of shares was made to Mr Abbott are a matter of dispute.  I shall deal with this further below.

27.Some time in March 2004 Mr Abbott decided to upgrade his property by selling the Central Park Property and buying another (better) property (“the New Property”).  He asked Mrs Green for a letter certifying his remuneration (for the purpose of obtaining a mortgage loan) and a letter dated 8 April 2004 was issued by McRink HK stating Mr Abbott’s monthly salary to be HK$35,000.

28.More importantly he asked Mrs Green for a loan of HK$1,000,000 for the purpose of such a purchase.  Mrs Green agreed to make such a loan.

29.On 13 May 2004, a cheque of HK$1,000,000 (drawn on McRink’s BOA account) was paid to Mr Abbott.  On the same day, Mr Abbott signed an IOU to McRink HK acknowledging the debt.  According to this IOU, the loan was interest free, and repayable within four years.  Up to the date of the trial Mr Abbott has repaid HK$750,000 (part of this was done by way of offsetting bonuses receivable by Mr Abbott from McRink HK).  HK$250,000 remains outstanding.  This trial is not concerned with recovery of this balance — it is not due yet.

30.The Central Park Property was not yet sold when the purchase of the New Property was completed.  So Mr Abbott had to rely on a mortgage.  The Central Park Property was eventually sold and completed in October 2004 and the proceeds were used to discharge the mortgage on the New Property in November 2004.

31.On 12 August 2005, a Memorandum of Sale and Purchase was signed between Miss Sam and a company called Duiker Limited (“Duiker”).  According to Miss Sam the shareholders of Duiker were Mrs Green and herself, with Miss Sam holding her share on behalf of Mrs Green.  In short, Duiker was Mrs Green’s company.

32.The Memorandum of Sale and Purchase related to the “sale and purchase” of a property known as Flat B, 3rd floor, Block B, Joyful Building, Tsuen Wan, New Territories (“the Tsuen Wan Property”) for the price of HK$850,000.  Duiker was stated to be vendor and Miss Sam was stated to be the purchaser.  An assignment was executed on the same day.

33.Despite the name of “Memorandum of Sale and Purchase”, according to Miss Sam, no purchase money changed hands and this was in fact a gift.  Miss Sam said that she paid the stamp duty of HK$8,000 odd herself.  The Tsuen Wan Property was the flat which Miss Sam and her family used to live in, before she (and her family) moved into the Lai Chee Kok Property in March 2005.  As at the time of the assignment in August 2005, the Tsuen Wan Property was vacant.  The significance of this transaction (and a related transaction in late 2006/early 2007 in which Miss Sam sold the Tsuen Wan Property) will become clear later.

34.Three days later, on 15 August 2005, a Letter of Non-Disclosure was signed by Mr Abbott on McRink HK letterhead.  An identical letter was signed by Mr Abbott on McRink BVI letterhead.  Nothing material turns on the fact that there are two identical letters.

35.It is common ground that the first paragraph and the penultimate paragraph of this letter referred to a recent incident when Miss Sam made “unauthorized borrowings” from McRink HK.  The remainder of the letter imposed obligations of confidentiality and non-compete on Mr Abbott; it also went on to state that Mr Abbott had asked for his 10% share in both McRink HK and McRink BVI “now” (that is, as of the time the letter was written) rather than to wait until Mrs Green died.  The letter said that Mrs Green had decided to give him the shares “now” as Mrs Green’s sons and sister could refuse to give him the shares (presumably this was a reference to after Mrs Green’s death).  The letter then went to provide, in effect (this also appeared to be the understanding of the parties before me), that while Mrs Green was still alive Mr Abbott would only be entitled to 5% of the net profits of the companies.  The letter also provided for limitations on to whom the shares might be sold, and what was to happen to the shares when Mr Abbott died.

36.At or around the time of this Letter of Non-Disclosure, Mrs Green gave the share certificates for Mr Abbott’s shares in McRink HK and McRink BVI to him.

37.The circumstances under which Mr Abbott’s Letter of Non-Disclosure was signed are in dispute.  I will deal with this below.

38.I should add that Miss Sam also signed similar Letters of Non-Disclosure (on McRink HK and McRink BVI letterhead) dated 15 August 2005.

39.Over the years, Mrs Green has made a number of wills.  For present purposes, two are relevant : one dated 8 September 2000 (“the 2000 Will”) and another dated 7 October 2005 (“the 2005 Will”).  Both were in very simple form.  Each will was accompanied by a Letter of Wishes (“LOW”) of the same date, setting out Mrs Green’s wishes in greater detail.

40.Irrespective of the niceties of the law relating to the status of letters of wishes, the parties before me have treated the LOWs as part of the Wills and I shall proceed on this basis.

41.In the 2000 Will, Mr Abbott and Miss Sam were appointed executors.  Mr Abbott was given HK$1,000,000; in the 2000 LOW, Mr Abbott was given the right to reside in Mrs Green’s Conduit Road apartment.

42.In the 2005 Will, Mr Abbott and Mrs Green’s two sons were appointed executors.  The HK$1,000,000 gift to Mr Abbott remained.

43.On 10 October 2005 (3 days after the making of the 2005 Will and the 2005 LOW), a board meeting for McRink HK was held.  It was attended by Mrs Green, Mr Abbott, Miss Sam, and Mrs Green’s two sons Simon Green and Stuart Scott Green.  Not all of them were directors.  Though described as a board meeting, the minutes of that meeting suggested that it was more in the nature of a meeting among family and close associates for the purpose of discussing a host of personal and business matters.  In this meeting, Mrs Green’s 2005 Will and 2005 LOW were read out.  It also recorded that Miss Sam had returned her 10% shares to McRink HK and that Miss Sam had been asked by Mrs Green to resign from her directorship in McRink HK.  McRink HK’s annual return dated 29 March 2006 did show that her shares were transferred to Cocklesford (Holdings) Ltd on 17 October 2005.

44.In February 2006, the relationship (both on a business level and a personal level) between Mr Abbott and Mrs Green broke down.  A letter of cancellation dated 14 February 2006 was signed.  By the said letter, Mr Abbott’s obligations of confidentiality and non-compete under the Letter of Non-Disclosure were released.  In return, Mr Abbott agreed to return his 10% shares in McRink HK and McRink BVI to Mrs Green and agreed that he no longer had any rights to any assets in these companies.

45.The circumstances surrounding the breakdown in relationship are, as would come as no surprise to anyone reading this judgment so far, in dispute.  Again this will be dealt with in greater detail below.

46.On 28 April 2006 Mrs Green assigned the alleged HK$3,000,000 loan to Glories Faith.  Notice of assignment was given on the same day.  Glories Faith’s solicitors issued a demand on 2 May 2006.  The Writ herein was issued on 20 May 2006.

47.On 15 December 2006, Miss Sam entered into a provisional sale and purchase agreement for the sale of the Tsuen Wan Property (which, according to her, had been left vacant since its assignment to her in August 2005 — she said she paid for the management fees and did some renovations to it) to a Mr Kei Ka Hung for the price of HK$1,068,000.  A deposit of HK$30,000 was paid.  A formal sale and purchase agreement was signed on 28 December 2006.  Completion took place on 30 January 2007

48.Miss Sam’s witness statement was signed by her on 14 December 2006, a day before the provisional sale and purchase agreement. According to her, she gave instructions to about three estate agency companies to try to sell the Tsuen Wan Property in the middle of 2006.  According to her, the estate agent only rang her up with the offer after she had signed the witness statement.

49.On 22 December 2006, Miss Sam gave standing instructions to her bank to make monthly payments of HK$5,000 to an account of Mrs Green’s at Standard Chartered Bank.  The reason for such payments was, according to Miss Sam, to repay the loan of HK$3,000,000 which Mrs Green extended to her by the payments in late 2002 as described above.  This alleged purpose of the payments is challenged by Mr Abbott.

Consideration of the evidence

50.I now turn to consider the primary factual issue in this case namely whether the payment of HK$3,000,000 for Mr Abbott’s benefit was in the nature of a loan or a gift.

51.I start with the question of burden of proof.

52.The parties are not in dispute that where money is proved or admitted to have been paid by A to B, then in the absence of any circumstances suggesting a presumption of advancement, there is prima facie an obligation to repay the money; accordingly if B claims that the money was intended as a gift, the onus is on him to prove this fact (Chitty on Contracts (29 ed.) (Vol.1) §38-229, applied in Lam Cheung Ping v. Chan Lai Ping Queenie HCA2167/2004; 5 June 2007, Deputy Judge Louis Chan).

53.In this case, given that the money was paid by Mrs Green for the benefit of Mr Abbott (though the funds were paid by cheques drawn on McRink’s BOA account, the evidence is that the ultimate source of the payments were Mrs Green’s private funds held by an entity called Verity), the burden is on Mr Abbott to prove that he is not liable to repay the money.

54.Mr Abbott described the circumstances surrounding the payment of the HK$3,000,000 in paragraphs 18 to 25 of his witness statement.  He also supplemented it orally.  In short :

(1) In about mid-2002 Mr Abbott was interested in purchasing a flat and he informed Mrs Green of his interest. 
(2) In September 2002 he located the Central Park Property.  The price was close to HK$3,000,000.
(3) He approached the Standard Chartered Bank for a mortgage and was told that he needed a guarantor for a 20-year mortgage because of his age.
(4) He told Mrs Green about his intention to purchase a flat and of the price.  He asked Mrs Green to be his guarantor.
(5) Without enquiring about any particulars of the Central Park Property, Mrs Green said that she would purchase the flat for him by giving him HK$3,000,000 (this is what he said in his witness statement — his oral evidence is at variance with this and I shall deal with this below).  She said that Miss Sam would arrange for the payment whenever he needed the funds.
(6) The HK$3,000,000 was thereafter paid in the manner described earlier in this judgment.  Miss Sam drew up all the cheques.

55.Mrs Green set out the circumstances surrounding the payment of the HK$3,000,000 in paragraphs 15 to 20 and 22 to 33.  She also supplemented it orally.  In short :

(1) Some time in August 2002, Mr Abbott mentioned to Mrs Green and Miss Sam during a casual conversation in the office that property prices were low and it was a good time to purchase a property.  No details were gone into.
(2) Then in September 2002 Mr Abbott went to see Mrs Green in private and said that he wanted to purchase a property.  He asked Mrs Green for a loan though he did not mention any specific price or specific property.  Mr Abbott said that he was talking about roughly HK$3,000,000.
(3) Mrs Green asked Mr Abbott how he was going to repay her.  Mr Abbott said that he was still working for Mrs Green and he could generate some rent from the property.  Mrs Green said that she had to think about it and discuss with Miss Sam (the reason was that Miss Sam had been helping Mrs Green in handling her money and Mrs Green also wanted to check with Miss Sam whether she had reached her goal of saving up US$6,000,000).
(4) Mrs Green then discussed the matter with Miss Sam (in the absence of Mr Abbott).  She ascertained that her goal of saving up US$6,000,000 would be reached by the end of September 2002.  She also expressed her unhappiness about Mr Abbott’s request for a loan since it had not been easy for her to save up her US$6,000,000.  However, since she felt sorry for Mr Abbott (who, in her view, was getting old and needed some security) she decided to make the loan to Mr Abbott.
(5) Mrs Green then told Mr Abbott that she would lend him HK$3,000,000 but the money would not be available until October 2002.  Nothing was said about interest or time of repayment.
(6) Several days later Mr Abbott told Mrs Green (in the presence of Miss Sam) that he had found a flat but he did not say where it was.  There was then a discussion of how the purchase price should be paid.  Miss Sam suggested that Mrs Green’s personal money would have to go through the account of McRink HK in case the Inland Revenue Department inquired about the source of the funds for purchasing the property.
(7) Mr Abbott did not mention where the property was, save to mention the word “Olympic”.
(8) Mrs Green then made arrangements about her funds and made various payments (through McRink HK’s account) towards paying the purchase price and related payments about the Central Park Property.
(9) After the various payments towards the purchase of the Central Park Property, there was still a balance of HK$91,175 before the HK$3,000,000 total was reached.  Mr Abbott asked Mrs Green for that sum on 21 November 2002 and it was paid by cheque.

56.Miss Sam gave evidence largely corroborative of Mrs Green’s evidence.

57.As there was no IOU for the alleged loan, the issue of whether the HK$3,000,000 was a gift or a loan turns on the credibility of the oral testimony of the witnesses.  In assessing credibility of witnesses, the Court has to have regard to contemporaneous documents, demeanor and manner of witnesses when giving evidence, and inherently probabilities of the evidence.  Inherent probabilities are to be evaluated against the surrounding or background facts.

58.I bear in mind the limited assistance of demeanor. Further, the Court only had the opportunity to observe the demeanor and manner of a witness during a short period of time when he or she testifies.  That said, I have the following comments on the witnesses :

(1) Mrs Green :
  Generally she gave her evidence in a straightforward manner.  At times she would ramble.  Sometimes she found it difficult to follow or focus on the evidence.  That could partly be attributed to the fact that she had health problems and felt tired easily.  Beneath all this, I detect a rather domineering personality and a strong and independent mind (this is also borne out by the wording of her various wills and LOWs).  She also appeared to harbour very strong feelings against Mr Abbott in her evidence.  She was firm about the fact that the arrangement was in the nature of a loan. 
(2) Mr Abbott :
  He gave the appearance of being gentle and soft-spoken in the witness box.  In several crucial parts of the case his evidence was unsatisfactory.

I should state that, as between Mrs Green and Mr Abbott, it is not a case where I can say, in a blanket way, that whenever there is a conflict between their evidence I would prefer one’s evidence over the other’s.  Neither had impressed me entirely.  There are parts of Mrs Green’s evidence which I prefer over Mr Abbott’s; and there are parts of Mr Abbott’s evidence which I prefer over Mrs Green’s.

(3) Miss Sam :
  She gave evidence in a plain and straightforward way but, at times, the manner, tone and wording of her evidence gave me the impression that she was reciting a prepared script (especially over her evidence as to why she was given the Tsuen Wan Property by Duiker — the significance of this evidence will become clear later).  I shall come back to this in greater detail when I consider the issue of Duiker. 

59.I should state at this early juncture my finding on the central issue, and then explain my reasons in making the finding.

60.I find that the HK$3,000,000 was a loan, not a gift.  This is my finding even if the burden of proof had been on Glories Faith.

61.A number of key factors are pertinent.

62.First, there is the inherent unlikelihood of someone in the position of Mrs Green making a gift of such magnitude to Mr Abbott without some reason and without informing Mr Abbott of such reason.

63.People normally make gifts for a reason : the reason could be love and affection; it could be to celebrate something worth celebrating; it could be to express one’s gratitude.  The more substantial the gift, I would expect the underlying reason to be more substantive.  And usually the maker of the gift would explain why the substantial gift is given (unless the context makes it clear).  Every case depends on its own facts.

64.In this case I cannot see anything in the relationship between Mr Abbott and Mrs Green for Mrs Green to want to make such a substantial gift to Mr Abbott.  It is common ground that whatever romantic or intimate attachment between Mrs Green and Mr Abbott had long ceased by the time the payments were made.  No doubt they were personal companions, and Mr Abbott had helped out in the business (for which Mr Abbott and BA were remunerated).  But that is a rather flimsy basis for the making of an unexplained HK$3,000,000 gift.

65.Mr Abbott’s evidence is that when Mrs Green promised to make a gift of HK$3,000,000 she did not say why she was making such a gift and he did not ask why.  He just thought that it was a generous gesture and he accepted.  I find this hard to accept.  Ordinarily if someone is offered a substantial gift without any accompanying reason, the normal reaction (even if it were against the background of a long standing personal companionship, and even if he were minded to accept it) would be to inquire into the reason for the gift.  Mr Abbott said that he did no such thing.  When I asked him why he thought such a gift had been made to him, he gave a rambling answer about the amount of time that they had spent together, the things he had done for her and the places that they had been to together.  But those were not very sound reasons.  The distinct impression I got from observing Mr Abbott was that Mr Abbott was finding it difficult to address the matter directly and he was trying to fudge this issue.

66.Mr Abbott suggested that Mrs Green was a person of a generous disposition, and he referred to instances when she had sent money to her friends (one example being the sending of GBP500 to a lady friend in the UK).  According to him, she had also sent large sums of money (the amounts were not specified by him) to her two sons.  And he said that Mrs Green had helped to finance the acquisition of a property by Ms Petra Roberts (her son’s former girlfriend).  In my judgment, these incidents (even if made good) do not go towards showing a propensity of making an unexplained substantial inter vivos gift to Mr Abbott.

67.The second pertinent factor is the fact that the total of the purchase price for the Central Park Property and the incidental expenses paid by Mrs Green was only HK$2,908,825.  It was not quite HK$3,000,000.  A payment of HK$91,175 was made in order to top up the total amount to HK$3,000,000.  According to Mr Abbott, this amount of HK$91,175 was not the amount required for renovating the Central Park Property though he could not recall the exact renovation costs.

68.The significance of this factor is this.  According to Mr Abbott’s evidence, Mrs Green agreed to make the gift after Mr Abbott had told Mrs Green that the price of the property he had found (there is some dispute as to whether on the same occasion Mr Abbott had told Mrs Green that he had already found a property which he wanted to purchase, but that is not material for present purposes) was about HK$3,000,000.  Mrs Green then said “I will buy it for you.”

69.If Mrs Green’s making of a gift was prompted by information that Mr Abbott wanted to buy a property worth about HK$3,000,000, a natural way in which Mrs Green could have acted was to agree (and tell Mr Abbott) that she would pay for the flat.  In such a case she would have completed the gift by paying HK$2,908,825 (being the purchase price plus the incidental expenses) without paying the final “top up” payment of HK$91,175.  The sum paid by Mrs Green would not be HK$3,000,000.

70.Another way in which she could have acted was to agree to (and tell Mr Abbott) that she would pay for the flat and the renovation expenses.  In such a case she would have to pay not just the HK$2,908,825 but HK$2,908,825 plus whatever renovation costs which Mr Abbott might incur.  In such a case the total sum paid by Mrs Green would still not be HK$3,000,000.

71.It is possible, in theory, for a person to agree to gift a fixed sum of HK$3,000,000 to another upon learning that the latter needed about HK$3,000,000 to purchase a property.  That might be along the lines of thinking “If you need about HK$3,000,000, I’ll round it up and give you HK$3,000,000 and let you spend it in the way you see fit.”  However, on Mr Abbott’s own evidence this is not his case.  According to Mr Abbott (upon being pressed on this point), Mrs Green did not say “I would give you HK$3,000,000” (I would note here that this contradicts his witness statement where he said at paragraph 21 that Mrs Green said that she would buy him the flat “by giving him HK$3,000,000.”)

72.When Mr Abbott was asked why, if Mrs Green had not said she would give him HK$3,000,000, Mrs Green would pay a “top up” sum to make up a round sum of HK$3,000,000 at the end (bearing in mind his evidence that Mrs Green did not say that she would give him HK$3,000,000), Mr Abbott said that it was presumably because Mrs Green had agreed with Angel and Mr Abbott that they would each get HK$3,000,000.  But that immediately contradicts his earlier oral evidence that Mrs Green did not say she would give him HK$3,000,000.

73.And then, when asked why Mrs Green did not pay Mr Abbott more money to defray the renovation costs, Mr Abbott’s answer was that it was presumably because he did not ask.  But he offered no sound reason why he should limit his final request to a sum just to make up the round sum of HK$3,000,000.  HK$3,000,000 happened to be the approximate purchase price Mr Abbott mentioned to Mrs Green when he was asked.  It cannot possibly have the effect of imposing any sort of constraints on Mr Abbott’s mind when he asked Mrs Green for the last payment.

74.Mr Abbott had great difficulties on explaining this part of the case.  Overall, I find Mr Abbott’s evidence on this highly unconvincing.  I reject his evidence.

75.I also reject the notion that both Mr Abbott and Mrs Green regarded, in their own minds, that the amount of the gift was fixed at HK$3,000,000 just because the sum of HK$3,000,000 had been mentioned by Mr Abbott in the context of giving an indication of how much the purchase would approximately be.

76.On the other hand, the payment of the top up amount to make up a final balance of HK$3,000,000 is entirely consistent with Mrs Green’s case that it was a straightforward loan of HK$3,000.000.  In this regard I accept Mrs Green’s evidence that it was a loan.

77.I am aware that there is no IOU in this case, but at the end of the day I do not think that not too much weight is to be placed on the absence of an IOU.

(1) It is trite that as a matter of law, no IOU is needed to constitute a loan.  The presence or absence of an IOU is only an item of evidence to be taken into account in assessing the credibility of the primary oral evidence about the nature of the transaction.  The weight to be given to the presence or absence of an IOU depends on the facts of a particular case. 
(2) In a heavy commercial transaction between substantial multinational companies, the absence of documentation might be something which would raise an eyebrow or two.  However, we are here concerned with a personal loan between persons who, though no longer romantically attached, were long-standing companions. 
(3) In this case, it is not disputed that Mrs Green had also extended other loans to Mr Abbott which were not the subject matter of any IOUs.  I have in mind the loans which Mrs Green had extended to Mr Abbott in relation to Mr Abbott’s prawn business in the Philippines.
(4) It may be said by Mr Abbott that these “prawn loans” were of a different nature : apparently there were more than one such loans, and Mr Abbott said that they were extended because of his inability to obtain Pesos in the Philippines.  But these do not detract from the basic point I am now considering, namely the existence of undisputed loans between Mrs Green and Mr Abbott which were not evidenced by any IOUs. 
(5) I have not lost sight of the fact that the HK$1,000,000 by McRink HK to Mr Abbott on 13 May 2004 (at the time when Mr Abbott was contemplating upgrading his property) was evidenced by a note signed by Mr Abbott.  There were some disputes as to whether this was truly a loan by Mrs Green to Mr Abbott (but, for some reason, was decided by Mrs Green to be made in the name of McRink).  The evidence is that the source of the HK$3,000,000 payment was from an account of Verity (Mrs Green’s private corporate vehicle) at UBS but the source of the $1,000,000 loan came from McRink BVI (this is according to the evidence of Miss Sam).  So the sources of two loans were quite different.  But, standing back from the matter, even assuming for the sake of argument that the HK$1,000,000 loan was to be treated as a “personal” loan by Mrs Green and that Mrs Green had (for whatever reason) decided that this particular loan was to be evidenced by a note signed by Mr Abbott, this is but one of the many matters which has to be considered.  I do not think that this factor, in the overall context of this case, detracts from the weight of the other factors which point in favour of a loan. 

78.In her 2000 Will and LOW, Mrs Green left Mr Abbott a sum of HK$1,000,000.  Even after payment of the HK$3,000,000 to him in 2002, Mrs Green in her 2005 Will and LOW still left him a sum of HK$1,000,000.  However, the making of a testamentary disposition of HK$1,000,000 does not necessarily mean that Mrs Green was a person of such generous disposition that she would be prepared to make an inter vivos gift of HK$3,000,000 to Mr Abbott as alleged.  The probative value of this testamentary gift is minimal.

79.And I place little weight on the fact that Mrs Green has somehow not “deducted” or “set off” the HK$3,000,000 loan when she made her 2005 testamentary gift of HK$1,000,000.  If the HK$3,000,000 was a loan, one would expect it to be repaid during the lifetime of Mrs Green and there is no inconsistency between the fact that (i) a HK$3,000,000 loan remained outstanding as at the time of the 2005 Will and (ii) Mrs Green had made a testamentary gift of HK$1,000,000 to Mr Abbott in her 2005 Will.  I note that, whilst Mr Abbott contends that the 2004 loan of HK$1,000,000 to him was in reality made to him by Mrs Green (and not McRink HK), the outstanding balance as of October 2005 was likewise not “set off” or taken into account by Mrs Green in her 2005 Will.

80.Whilst on the subject of wills, I would like to deal with the question of Miss Petra Roberts (Mrs Green’s son’s former girlfriend) in connection with a point made by Mr Abbott’s counsel in closing submissions.  One example of Mrs Green’s generosity is said to be Mrs Green’s gift of HK$2,500,000 to Miss Roberts, mentioned in the meeting on 10 October 2005 (when the 2005 Will and LOW were read out).  However, Mr Abbott’s counsel also referred me to the fact that in the October 2005 LOW it was stated that (among others) Miss Petra Roberts had already been given their expectations whilst Mrs Green was alive and might not expect any further benefit under her death.  This can be turned around and used as a point against Mr Abbott, in that this might suggest that if Mrs Green had in fact made an inter vivos gift to a person, she would remove any testamentary gift to that person in her will.  In the present case, the HK$1,000,000 testamentary gift to Mr Abbott, contained in the 2000 Will actually remained in Mrs Abbott’s 2005 Will.  It can therefore be argued that this tends to show that the HK$3,000,000 was not a gift but a loan.  I do not want to get overly bogged down on this point, because this is not something which has been investigated in any detail in the oral evidence of Mrs Green.  Suffice it to say that I have considered this point and found it to be of marginal relevance to the central issue in this case.

81.One feature of this case is that although the key issue (namely whether the payment of HK$3,000,000 was a gift or a loan) is a relatively simple one, the factual issues raised by the parties are numerous.  Many such factual issues are hotly disputed, and call for an assessment of contested oral testimony.  Much debate has centred on whether a witness was lying in his or her evidence on the particular point, and the truthfulness of the witnesses on these matters is said to be “relevant to credibility”.

82.Sometimes a disputed fact X is said to be relevant to credibility because it is said that fact X (say, the making of another gift) makes it more likely that the evidence of one party on the central is true (say, because it tends to show a propensity to be generous).  Sometimes an issue of fact is said to be relevant to credibility simply because if a witness can be shown to be untruthful or unreliable in his/her evidence on that factual issue (which is not the central issue), it can be said that he or she is more likely to be untruthful or unreliable on the central issue.

83.The problem with focusing too much on such factual issues as matters “relevant to credit” is this : Unless the fact is undisputed or relatively easy to demonstrate, the ascertainment of that fact (or of who is telling the truth as to that fact) can turn into a trial within a trial, and hence detract from one’s attention on the real issue in the case.

84.Further, unless the relevance of the fact is clear (as opposed to tangential), the time and effort spent on investigating that fact is going to be disproportionate.

85.There is also the well-known fact that sometimes people lie (or give untruthful evidence) for reasons which do not impact on their credibility on the central issue.

86.In light of the above, suffice it for me to say that in coming to my findings of fact on the central issue I have considered all of counsel’s written and oral submissions on such factual issues and my factual findings have taken them into account.  In deference to counsel’s effort and time spent on exploring some of these matters, I state some of my conclusions below.

(1) The circumstances in which Mr Abbott was given shares in McRink HK and McRink BVI in December 2002 are in dispute. 
  (a) Mrs Green says that Mr Abbott asked for the shares because he was worried about what might happen to his position in the company if Mrs Green were to die. 
  (b) Mr Abbott says that the shares were a gift to him and he did not ask for them.
  (c) The relevance of this is that if the shares were given to Mr Abbott as a gift and without any prompting or asking by Mr Abbott, it may be said to show a propensity to be generous on the part of Mrs Green. 
  (d) On this issue I am inclined to accept Mrs Green’s evidence.
  (e) In his witness statement Mr Abbott did not suggest why Mrs Green would make such a gift to him.  He did not say he asked why; and he did not say that Mrs Green told him why.  Only in his oral evidence did he suggest (based on his own presumption) that this was because at around that time the company had just secured or engaged a big customer called Schneider and he thought that the shares were Mrs Green’s way of rewarding him and incorporating him into the company.  It smacks of an afterthought, only thought of when he was pressed in the box.  In any event I find this idea of an unsolicited and unexplained gift of shares to reward Mr Abbott (with a precondition that it was not to take effect until after Mrs Green’s death) entirely unconvincing.  I reject it. 
(2) The circumstances where the Letter of Non-Disclosure came to be signed are in dispute. 
  (a) Mrs Green says that it was because Mr Abbott had found the share certificates for his 10% shares in the office in August 2005 and he demanded that the shares (I take that to mean the share certificates) be given to him immediately. In order to prevent Mr Abbott (and Miss Sam) from abusing their shares, Mrs Green prepared the Letter of Non-Disclosure.
  (b) Mr Abbott says (at paragraph 34 of his witness statement) that Mrs Green gave him the certificates because she feared that her children might not honour her wishes. 
  (c) In his oral evidence he added that he asked for the share certificates after Mrs Green asked him to sign the Letter of Non-Disclosure.
  (d) He also suggested (in connection with Miss Sam) that August 2005 was very bad time for Miss Sam (this was after her misdemeanours by way of “unauthorized borrowings” were discovered by Mrs Green) and that the giving of the share certificates to Miss Sum, the request for Miss Sam to sign the Letter of Non-Disclosure (both of which were in August 2005) and the subsequent “taking back” of the shares from Miss Sam in October 2005 (as evidenced by the minutes of the October 2005 Board Meeting) were all part of Mrs Green’s scheme of “punishment” of Miss Sam.
  (e) Miss Sam gave evidence corroborative of Mrs Green’s. 
  (f) On this issue, I do not accept the evidence of one side or the other in its entirety. 
  (g) I reject Mr Abbott’s evidence about a plan for “long term punishment” of Miss Sam, i.e. giving something to Miss Sam and tying her down with a Letter of Non-Disclosure in August, with a view to getting it back in October (or, in Mr Abbott’s words, “revenge is a dish best served cold”).  The suggested “revenge” makes little sense. 
  (h) However, I think the writing of the Letter of Non-Disclosure was indeed prompted by Miss Sam’s misdemeanours : the opening paragraphs of the letter bore this out.  By the Letter of Non-Disclosure (we now know that Miss Sam has also signed a Letter of Non-Disclosure similar to that of Mr Abbott’s) gave Mrs Green some measure of assurance as to what Miss Sam and Mr Abbott could or could not do if they were to leave the company.  It is probable that the desire to obtain such assurance was caused by some concern over their conduct.  The only matter causing any concern at that time, on the evidence, was Miss Sam’s conduct. 
  (i) Even though there was no similar “misconduct” on the part of Mr Abbott, the misconduct of Miss Sam would have caused Mrs Green to have concerns about the conduct of people working for her generally.  It is a matter of semantics whether one can call this “punishment” of Miss Sam.  It is more a case of erecting safeguards in relation to two employees after misconduct by one of them. 
  (j) This is entirely supported by the wording of the first few paragraphs of the letter.  Mrs Green obviously saw Miss Sam’s misdeeds (Mrs Green sought to dress it up by the euphemism of “borrowing”) as an important point which she felt strongly about — for otherwise she would not have put it right at the beginning of the letter.  The penultimate paragraph of the letter returned to this theme (“There are numerous cases where those entrusted with the operations and profits of the companies get greedy and want more than is their fair share.  We have just seen an example of this.”). 
  (k) I note that the Letter of Non-Disclosure expressly recorded that both Mr Abbott and Miss Sam had asked for their shares (meaning the share certificates).  But that does not necessarily mean that they (or at any rate, Mr Abbott) first asked for their shares and then the idea of the Letter of Non-Disclosure came up (as suggested by Mrs Green).  It could well be the other way round (i.e. Mrs Green suggesting the signing of a Letter of Non-Disclosure first, and then Mr Abbott wanting — as a quid pro quo for accepting the restrictions in the letter — the shares).  In fact this latter scenario (and I so find) is more consistent with the way in which the Letter was structured — the undertakings were extracted first; the treatment of “giving of shares” came after that.  It was the product of several days of negotiation. 
(3) The reason for the breakdown in relationship between Mrs Green and Mr Abbott is in dispute. 
  (a) According to Mrs Green, it started with a dispute over Mr Abbott’s work performance.  There was also a conversation in which Mr Abbott suggested to Miss Sam that if he left McRink HK he would go to “ISO” (a competitor), which was taken by Mrs Green as a threat to join a competitor. 
  (b) These eventually led to a confrontation on 6 February 2006 when Mrs Green attempted to hand a letter dated 6 February 2006 to Mr Abbott (accepting one of two proposals about his future in the company which Mr Abbott put to her in a letter dated 5 February 2006) and Mr Abbott refused to read the letter and then stormed out of the office, saying he was leaving the company.  Eventually a letter of cancellation dated 14 February 2006 was signed. 
  (c) According to Mr Abbott, things began to turn bad after Mrs Green had learned that Mr Abbott was having a girlfriend (who turned out to be Mrs Green’s travel agent).  Mrs Green was raged and asked Mr Abbott to leave the company and return the shares.  She asked for the repayment of the balance of the HK$1,000,000 loan but not the HK$3,000,000. 
  (d) In relation to the letters dated 5 February 2006 and 6 February 2006, he admitted that he had put forward two proposals about his future in a letter dated 5 February 2006.  One of the proposals positively contemplated him staying at the companies.  He denies having seen the 6 February 2006 letter. 
  (e) In my view, there may be some truth in Mrs Green’s complaint about Mr Abbott’s work performance.  And Mr Abbott admitted that he had mentioned the name of “ISO” (a competitor of McRink) in a conversation he had with Miss Sam (though, he said, not in the context in which Miss Sam put it in her evidence).  Mr Abbott also admitted that in one of the conversations he had (as alleged by Mrs Green) made unfortunate and derogatory remarks about Mrs Green’s IQ (“in the heat of the moment”, he said). 
  (f) It is, however, not necessary for me to make precise findings on every chain of the events.  Importantly, I find that the breakdown of the relationship was largely contributed by Mrs Green’s discovery that Mr Abbott was having a girlfriend.  She said in evidence that she was not outraged.  However, her manner, tone and demeanor of giving evidence gave me the firm and distinct impression (giving due allowance for the dangers of relying too much on demeanor) that she was outraged and disturbed by Mr Abbott’s association with his girlfriend.  At various points in her evidence, she appeared obsessed and emotional about the subject.  Whether this was because — as she said when she tried to explain why she kept an interest in Mr Abbott’s love life — she was concerned as to Mr Abbott’s loyalty to her business (there was some mention by her about Mr Abbott bringing his girlfriend’s nephew to work in the office as a trainee and a reference to the nephew as a “mole”) or whether it was because she felt that she was losing her grip on someone who was close to her (and who would do the “running around” for her) is something which I do not need to make a finding on. 
  (g) On the dispute as to Mr Abbott’s alleged reaction to the 6 February 2006 letter allegedly prepared by Mrs Green, I prefer the evidence of Mr Abbott to that of Mrs Green and Miss Sam (whose evidence on this is actually at slight variance with that of Mrs Green — Mrs Green said that Mr Abbott refused to read or agree to the letter; Miss Sam said that she saw Mr Abbott read into the letter and it took some time before he threw it back). 
  (h) Given that in his earlier letter dated 5 February 2006 he made one proposal about him staying with the company (the letter did contain a fallback about him terminating the services but that was only if neither of the earlier two proposals were not accepted), it would be an extremely odd and irrational piece of behaviour on the part of Mr Abbott if he were to refuse to read or entertain Mrs Green’s letter dated 6 February 2006 (which in fact accepted his proposal about staying at the company).
  (i) I note, further, that Mrs Green’s 6 February 2006 letter (which Mr Abbott said he never saw) was unsigned by Mrs Green.  It may or may not have been typed and prepared on 6 February 2006.  It may or may not have been printed out on 6 February 2006. But I do not accept that it has been given to (and rejected by) Mr Abbott as alleged. 

87.In fairness to Mr Abbott, I have considered the possibility (in view of my comments above as to Mrs Green’s reaction to Mr Abbott’s girlfriend) whether this could be a case where Mrs Green had truly intended to make a gift to Mr Abbott when relationships were good but, because things had turned sour on a personal level, then decided to launch a vendetta against Mr Abbott by claiming that the HK$3,000,000 was a loan.  However, on reflection, the fact that the loan was only demanded after relationship had turned sour on a personal level is itself a neutral factor, because it is equally consistent with the scenario that when relationships were good, Mrs Green was content for the loan to remain outstanding for some more time but when relationship turned sour, she saw no further reason why the debt should continue to remain unpaid.  Having considered it, I am of the view that it does not detract from the other evidence in favour of a loan and my conclusion about the nature of the transaction is unaffected by my comment on Mrs Green above.

88.I now come to the question of the nature of payment of the HK$3,000,000 to Miss Sam.  The nature of this payment is disputed.

(1) The evidence of Mrs Green and Miss Sam is that this was a loan which Mrs Green agreed to extend to Miss Sam : 
  (a) Miss Sam approached her for a loan of HK$3,000,000 several days after she had agreed to lend HK$3,000,000 to Mr Abbott.  At that time Miss Sam also wanted to buy a flat.  She in fact used the funds to purchase the Lai Chee Kok Property. 
  (b) When she borrowed the funds, she said that she would repay Mrs Green by paying back $5,000 per month and by using her year-end bonus.  But no fixed time for the commencement of repayment was discussed or agreed. 
  (c) As things turned out, repayments (at HK$5,000 per month) did not commence until January 2007.  She did not immediately commence monthly repayments of HK$5,000 because after the loan was made in 2002, car parks in the same development became available at a 15% discount.  Mrs Green encouraged her to save up some money to purchase a car park.  Miss Sam did so and she purchased a car park in December 2004.  She also spent some savings on renovation.
  (d) Also, members of her family had financial problems and she had lent some of her funds/savings to them.  Eventually in late 2006 she sold the Tsuen Wan Property (transferred to her by Duiker in circumstances I have described above) and was in a position to commence her monthly repayment of HK$5,000.  That started in January 2007. 
  (e) As to why Duiker transferred the Tsuen Wan Property to her in August 2005, Miss Sam said that after her misdemeanours were found out by Mrs Green, even though she was “forgiven” by Mrs Green, she could not concentrate on her work and she lost her confidence.
  (f) Ms Green then said to her that “feeling guilty would not make the thing better; take a breath; carry on”.  Mrs Green wanted her to have a fresh start in the company and that she would be removed as a shareholder and executor.  But the flat she was living in (namely the Tsuen Wan Property), which Mrs Green had left to Miss Sam in her will, would be transferred to Miss Sam quickly and that she would decide whether to sell or rent the property (and if she could sell the property, she could start repaying the HK$3,000,000 loan) 
(2) Mr Abbott says that the payments were in the nature of a gift, in the same way that the HK$3,000,000 payment to him was a gift.  He did not witness Miss Sam asking for the gift; he said he was told about it by Mrs Green afterwards. 
(3) Though on the pleadings there is an issue as to whether this was a loan or a gift, the nature of this payment is not a material fact for the purpose of constituting (or defeating) Glories Faith’s cause of action.  In strict theory the facts could be that the payment to Mr Abbott was a loan and that to Miss Sam was a gift (or vice versa).  However, in view of the way in which the evidence has developed forensically, if the payment to Miss Sam is of a particular nature, it will have some bearing on the nature of the payment to Mr Abbott in terms of credibility.
(4) My conclusion is that I am satisfied that the payment of HK$3,000,000 to Miss Sam was in the nature of a loan as well. However, I do have some misgivings about Miss Sam’s evidence about the circumstances under which the Tsuen Wan Property was transferred to (and sold by) her and under which the repayments commenced but in the end, I do not think I need to make any firm findings on these matters.  Let me explain why.
(5) I start with the inherent probabilities of the HK$3,000,000 to Miss Sam being a loan, alternative a gift.  Like in the case of Mr Abbott, it is inherently unlikely that Mrs Green would like to make a substantive gift to Miss Sam. 
(6) No doubt she was a long-standing and loyal employee, but she was rewarded by her salary and bonuses.  There was little reason to give her anything extra, at any rate something as substantive as HK$3,000,000.
(7) In Miss Sam’s case, she also asked for a “top up payment” from Mrs Green before the total amount of HK$3,000,000 was reached.  In her case the top up payment was HK$63,610 and it was made about two years after the purchase of the Lai Chee Kok Property. 
(8) Such a top up amount would be difficult to explain if the HK$3,000,000 had been a gift, for it raises the inexplicable question as to how the sum of HK$3,000,000 was arrived at in Miss Sam’s case.  According to Mr Abbott’s evidence (see above), he did not ask for a fixed sum gift of HK$3,000,000 and Mrs Green did not agree to make a gift to Mr Abbott by reference to a fixed sum of HK$3,000,000.  Therefore if Mr Sam did ask Mrs Green for a gift, she could not have asked for HK$3,000,000 on the basis that she wanted to follow Mr Abbott’s example. 
(9) Of course, by December 2004 (when Miss Sum’s top up amount was paid) Miss Sum would have learned that Mr Abbott had got HK$3,000,000.  But Miss Sum would not know that in October 2002 when the amount of any “gift” was agreed between her and Mrs Green. 
(10) It may be said that the agreement with Mrs Green in October 2002 was that Miss Sam would get a gift of whatever amount which Mr Abbott finally got; and since it transpired later that Mr Abbott got HK$3,000,000, Miss Sam followed suit and asked for a top-up amount to make up the HK$3,000,000 total.  But that is not what Mr Abbott said.  He said that a few days after he obtained Mrs Green’s promise for his gift of HK$3,000,000, Miss Sam also obtained a gift of HK$3,000,000.
(11) If the HK$3,000,000 was a loan, then the matter would be easy to rationalize : Mr Abbott asked for a loan of HK$3,000,000 in 2002 and obtained Mrs Green’s agreement for it; Miss Sum followed suit shortly thereafter and obtained Mrs Green’s agreement for it too. 
(12) Mr Abbott argued that if Miss Sam’s alleged repayment method (i.e. HK$5,000) per month was adopted, it would take her decades to repay the HK$3,000,000 debt.  However, she also had year-end extra payments (in 2000 and 2001 and payments were three months — she was earning HK$22,000 per month) and bonuses (her bonus in 2001 was HK$100,000).  It would be possible for her to repay the debt by proper planning of her finances.  She encountered some financial problems later but that is something she might not be able to foresee in October 2002.  In any event, even if it would have taken a long time to repay, there is still an important distinction between (i) an outright gift (in which case one never gets the gift back) and (ii) a loan (in which case the lender retains the ultimate power to decide whether to call on the loan or insist on repayment depending on a wide range of circumstances such as how well he or she is getting on with the borrower).  Whilst this argument of Mr Abbott’s is entitled to some weight, I do not think it outweighs the other factors in favour of a loan which I have referred to. 
(13) I now come to the timing of Miss Sam’s repayments and her means of repayment. 
(14) To start with, the absence of repayments by Miss Sam was not something which would otherwise have troubled me a lot in terms of whether the HK$3,000,000 was a loan or a gift; evidence that it was a loan is, in my view, strong; the relationship remained good between her and Mrs Green and it had not broken down.  Mrs Green had not asked for repayment.  If she has the right to call for payment, it is up to her whether she wants to demand payment.  I would not be surprised that, if relationship remains good between Mrs Green and Miss Sam, Mrs Green would not demand any repayment for a long time.
(15) But evidence of repayment was produced by Glories Faith.  As I said above, Miss Sam’s repayment started in January 2007.  This trial took place in September 2007.  The repayments began after this action had commenced and after the exchange of witness statements.  There had been no repayment prior to January 2007.  The Tsuen Wan Property was agreed to be sold just the day after Miss Sam had signed her witness statement.  The existence of repayments and the reason for their timing had not been foreshadowed by any witness statements.  Whilst Mrs Green mentioned briefly in her oral evidence that Miss Sam had begun her repayments, it was only when Miss Sam went into the witness box that the details of the repayments (and the evidence relating to Duiker and the Tsuen Wan Property) came out for the first time.  Miss Sam had to produce some further documents the day after she had completed her evidence and she had to be re-called to be examined on some of the matters arising out of them. 
(16) I was frankly troubled by this development and about many aspects of Miss Sam’s evidence :
  (a) There was no evidence that Mrs Green chased Miss Sam for repayment. 
  (b) Miss Sam’s evidence about the reason why Duiker assigned the Tsuen Wan Property to her in August 2005 was very unsatisfactory.  There was a good deal of confusion over the sequence of events between (i) her “loss of confidence”, (ii) the signing of the Letter of Non-Disclosure, (iii) Mrs Green’s decision to gift the Tsuen Wan Property to her and (iv) Mrs Green’s decision to remove her as executor and shareholder of McRink HK.  At one time (in her evidence in chief, before the Duiker documents were produced by her), she said that a few days after she signed the Letter of Non-Disclosure she lost her confidence, and Mrs Green then suggested having a fresh start and removing her as executor, etc.  And at the same time Mrs Green wanted to arrange for the Tsuen Wan Property to be transferred to her name.  But the timing does not match, because the Letter of Non-Disclosure was dated 15 August 2005 but the “Memorandum of Sale and Purchase” was dated 12 August 2005, before the Letter of Non-Disclosure.  Then (when she was recalled into the witness box after she had produced the Duiker documents) she said that she signed the Memorandum of Sale and Purchase first and then signed the Letter of Non-Disclosure.  And she gave back her shares to Mrs Green a few days later but Mrs Green asked her to keep the Tsuen Wan Property.  This contradicts her  earlier evidence when she said that the decision to gift the Tsuen Wan Property to her was made by Mrs Green after the signing of the Letter of Non-Disclosure. And her shares were transferred to Cocklesford much later (in October 2005). 
  (c) Miss Sam maintained that the Tsuen Wan Property was given to her because Mrs Green had in fact provided in her will that this property should be given to her after Mrs Green’s death and the transfer by Duiker was, in effect, an acceleration of this gift into an inter vivos gift.  But when I checked the terms of the 2000 Will and LOW I could not find a testamentary gift of the Tsuen Wan Property to her.  I asked her to point out the gift to me.  She referred to clause 2 of the 2000 LOW by which she was gifted the content of the envelop marked “Eterna Finance” in a safe deposit box.  But as she also told me that envelop contained the bearer share of Eterna.  Eterna did not hold the Tsuen Wan Property.  It did not hold Duiker either.  Miss Sam then agreed that this would not amount to a gift to her of the Tsuen Wan Property.  One therefore is left in the dark as to how this notion of “accelerating a testamentary gift” came from. 
  (d) Miss Sam’s explanation as to why she had, up to January 2007, not repaid the HK$3,000,000 by means of any monthly instalments (as she contemplated when she asked for the loan) depended largely on her word and her word alone (especially as to the numerous family financial problems she had) and there was not much by way of documentation for one to verify or test her testimony. 
  (e) The timing of the repayment, in the context of the timetable of this litigation, is something which at least reasonably prompts the question of whether it was merely a matter of coincidence, or whether the sale of the Tsuen Wan Property and the repayments commencing in January 2007 were attempts by Miss Sam (with or without prompting by Mrs Green) to try to create the appearance of repayment of loans and hence bolster the claim on the debt. In this connection, I also refer to my earlier observations about Miss Sam’s manner and tone of giving evidence (i.e. as if she were delivering something “scripted”). 
  (f) Mr Abbott’s counsel was somewhat handicapped by all this because these matters were literally “sprung” on her during Miss Sam’s evidence (although, I should say, she did not ask for an adjournment or any further discovery). 
(17) On the other hand, however :
  (a) Mrs Sam is not a party.  She is not on trial here.  Issues such as why she had not repaid earlier, and the veracity of her explanations about Duiker and her financial situation at various points of time only go to credibility and were not matters which could normally be the proper subject of pleadings or discovery. 
  (b) The issue of the nature of her HK$3,000,000 is only one which goes to credit.  One must retain a sense of proportionality. 
  (c) The court has not heard from Mrs Green as to her explanation of the transfer of the Tsuen Wan Property.  This is because all the evidence about the sale of the Tsuen Wan Property by Miss Sam and why it was transferred to Miss Sam in the first place came out after Mrs Green had left the witness box and there has been no application to have her re-called to address these matters. 
  (d) I also remind myself that I should be cautious in attaching too much weight on the manner and tone in which Miss Sam gave her evidence.  That could just be the way in which she normally speaks. 
  (e) The charge of lying in these circumstances is a serious one. 
  (f) The objective fact remains that the Tsuen Wan Property was in fact transferred by Duiker to Miss Sam in a transaction which bore the semblance of a gift.  The objective fact also remains that the Tsuen Wan Property was in fact sold in late 2006 which would have the effect of providing Miss Sam with a sense of security and for her to be able to commence repayments.  The transfer of the Tsuen Wan Property to Miss Sam took place in August 2005, before the relationship broke down between Mr Abbott and Mrs Green.  It is therefore unlikely that the property was transferred in 2005 with a view to paving the way for Miss Sam to present false evidence to help Mrs Green. 
(18) I do not think I need to make any finding as to the precise reason for the transfer of the Tsuen Wan Property in 2005 and whether the repayments were “genuine”.  The reason is this : 
  (a) Even without the evidence about the repayments (and about Duiker) I am satisfied (by reference to all the other matters and factors that I had referred to above) that both the two HK$3,000,000 payments to Miss Sam and Mr Abbott were loans.  This is even if the burden of proof was on Glories Faith. 
  (b) The question then becomes whether, if Miss Sam is shown to be lying on the whole issue of repayments, this would have any adverse impact on the credibility of herself and Mrs Green on the central issue. 
  (c) I do not think so. 
  (d) I bear in mind that even if a witness lies, he or she may lie for different reasons.  In this case, even if the repayments were all “faked”, the reason could be (i) an awareness by Mrs Green and Miss Sam that they had an unmeritorious case on the underlying claim against Mr Abbott and a desire to bolster a losing cause; or (ii) a clumsy attempt to bolster their (meritorious) case under the misguided belief that their case could be improved if some repayments could be “made” to appear.  One has to consider the issue of “lies” together with the strength of all the other evidence in the case. 
  (e) In the circumstances of this case, the strength of Glories Faith’s case against Mr Abbott is such that it is unaffected by any possible lying by Miss Sam (and to some extent, Mrs Green, insofar as she mentioned in her evidence in chief that repayments had been made) on the issue of Miss Sam’s repayment. 

89.In conclusion I find that not only has Mr Abbott failed to discharge the burden of showing that the HK$3,000,000 was a gift, Glories Faith has succeeded in proving that the HK$3,000,000 was a loan.

90.This leaves the issue of estoppel.  This can be briefly dealt with.

91.There could be no estoppel by representation.  Mrs Green never made any representation that the loan would not be enforced.  Mere inaction or absence of demand could not, on the facts of this case, amount to a representation that the loan would not be enforced.  And since Mr Abbott’s factual case is that the transaction was not a loan at all, he cannot possibly say that he relied on any representation that the loan would not be enforced.

92.There can be no estoppel by convention either.  The parties had not acted on the basis of any shared mistaken assumption.  Mrs Green had no mistake.  She said the HK$3,000,000 was a loan and I have held that it was a loan.  It is not even a case of a “unilateral mistake” (with reference to paragraph 67(1) of Mr Abbott’s closing submission).  It is not Mr Abbott’s case that he was mistaken.  He put forward a factual case as to the nature of the agreement which was rejected.  I find that he was not labouring under any misapprehension as to the nature of the transaction. In any event, I reject Mr Abbott’s argument on unconscionability.  It was said that had Mr Abbott known that he would be facing a demand for HK$3,000,000 he would, at the time when the 14 February 2006 cancellation letter was signed, have insisted on a different kind of deal.  This assumes that Mrs Green would have agreed to such a deal if it were put forward by Mr Abbott.  That could only be a matter of speculation by Mr Abbott.  In fact nothing has been put before me to suggest that Mr Abbott stood any chance of successfully obtaining Mrs Green’s agreement to this revised deal.

93.I therefore reject the estoppel arguments without hesitation.

94.In view of my findings on the loan, it is not necessary for me to deal with the resulting trust issue raised by the Statement of Claim.

95.In order not to lengthen this judgment (which is already long bearing in mind the relative simplicity of the central issue) I have not made detailed comments or findings of all the factual or legal arguments so enthusiastically explored and argued before me by counsel.  I have considered all of them, and the reason why I have not dealt with them in detail in this judgment is because in my judgment they do not detract from my conclusions in this case one way or the other.

96.I grant judgment in favour of Glories Faith in the sum of HK$3,000,000.  For the sake of simplicity I order that interest shall run from 9 May 2006 (the time for payment under Glories Faith’s solicitors’ demand dated 2 May 2006) until judgment at judgment rate and thereafter also at judgment rate until payment.  There shall also be a costs nisi in favour of Glories Faith.

  (Paul Shieh, SC)
Recorder of the Court of First Instance
High Court

Mr Cheung Kam Wing, Adonis, instructed by Messrs Y.L. Yeung & Co., for the Plaintiff

Miss Wendy Bien, instructed by Messrs C.O. Chan & Co., for the Defendant

Other Judgments in This Case

Further hearings and rulings under HCA 1087/2006