Read the full judgment text of HCMP 853/2014 on BabelCite. This Court of First Instance judgment was delivered on 18 December 2014 before Hon Au-Yeung J.
Trusts – vesting order – section 52(1) Trustee Ordinance – trustees cannot be found – neglect to transfer shares – express trust – non-voting deferred shares – substituted service – no order as to costs – The plaintiff applied for a vesting order under section 52(1) of the Trustee Ordinance for 18,000 non-voting deferred shares held by six defendants as trustees. The defendants executed declarations of trust in 1990 declaring they held the shares on trust for the plaintiff. The plaintiff lost contact with the defendants; searches at the Births and Deaths Registry found no death records. Written demands for transfer were sent but not responded to. Diligent service attempts failed, and substituted service was effected by advertisement. The court found the conditions under section 52(1)(b)(iii) and (iv) satisfied and granted the vesting order, vesting the right to transfer shares and receive dividends in the plaintiff, with no order as to costs.
Legal issues: Vesting order under section 52(1) of the Trustee Ordinance
Outcome: Vesting order granted in favor of the plaintiff.