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Hong Kong
Peconic Industrial Development Ltd v Lau Kwok Fai
[2009] HKCFA 1; (2009) 12 HKCFAR 139, Court of Final Appeal, 27 February 2009 — NOTE: the corpus neutral citation '[2009] HKCFA 16', court 'Court of First Instance' and the existing_principle (unfair prejudice / quasi-partnership exclusion) are all wrong; this is a CFA limitation-of-actions decision on dishonest assistance/knowing receipt.
Key Principle
For limitation purposes a distinction must be drawn between two classes of constructive trustee, and a dishonest assister (and a knowing recipient who has not assumed a prior fiduciary obligation) falls within the second class to whom the statutory exclusion from limitation does not apply, so that such a claim is subject to the ordinary six-year limitation period.
Area of Law
company
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