RE CENTENARY ENTERPRISES COMPANY LTD

HCMP 51/2025 &

HCMP 52/2025

[2025] HKCFI 1005

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

MISCELLANEOUS PROCEEDINGS NO 51 OF 2025

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AND

MISCELLANEOUS PROCEEDINGS NO 52 OF 2025

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J U D G M E N T

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1.  This is the ex parte hearing of 2 similar applications made by way of originating summons (“OS”) for vesting orders under section 52 of the Trustee Ordinance, Cap 29.

2.  Common to the 2 cases are that the late Madam Fong Tam Yuen Leung (“Mrs Fong”) alias Tam Yuen Leung used to hold one share in each of 2 companies as trustee. She died without appointing a trustee in substitution. Accordingly, the beneficiaries seek the court’s assistance to vest the share in the beneficiary absolutely, or appoint a trustee in her place.

3.  The facts can be tabulated below:

Case no.	Applicant beneficiary	Share involved (collectively “the Subject Shares”)	Trustee	Order sought
HCMP 51/2025	Centenary Enterprises Co Ltd (“CEC”)	One share in Holy Island Investment Co Ltd (“Holy Island”)	Mrs Fong	To vest the one share in CEC
HCMP 52/2025	Hip Shing Hong (Holdings) Co Ltd (“HSH”)	One share in Holguin Enterprises Co Ltd (“Holguin”)	Mrs Fong	To appoint Mr Fong Man Hung David (“David Fong”) as sole trustee

4.  Both CEC and HSH were founded by Mr Fong Yun Wah (“Mr Fong”) and their respective principal businesses are both in real estate development and investments. Mrs Fong is Mr Fong’s wife.

5.  Save for the one share held by Mrs Fong,

(1) The rest of the 999 shares in Holy Island are registered in the name of CEC.

(2) 998 shares in Holguin are registered in the name of HSH and one in the name of Fong Tam Po Maryanne.

6.  Mrs Fong had executed 2 Declarations of Trust:

(1) One dated 4 October 1985 confirming that she held the Holy Island share along with all dividends and interest accrued upon the same on trust for CEC as beneficiary; and

(2) One dated 5 January 1981 confirming that she held the Holguin share along with all dividends and interest accrued upon the same on trust for HSH as beneficiary.

7.  Mrs Fong died intestate on 25 March 2014. Letters of Administration of her estate had been granted to Mr Fong. Mrs Fong’s trustee status over the Subject Shares has been affirmed in the Schedule of Assets and Liabilities attached to the Letters of Administration.

8.  Mr Fong died on 6 January 2022 leaving a will. Probate was granted to Mr David Fong.

9.  Neither Mrs Fong nor Mr Fong as Administrator had appointed a trustee over the Subject Shares in substitution of Mrs Fong. Under section 34 of the Probate and Administration Ordinance, Cap 10, Mr David Fong, as the executor of the testator Mr Fong, is the executor of every preceding testator. However, the chain of such representation is broken by the intestacy of Mrs Fong. Currently, no one has power to deal with the Subject Shares without the assistance of the Court. Hence the present applications.

10.  Under section 52(1)(e) of the Trustee Ordinance, Cap 29,

“In any of the following cases, namely … where stock or a thing in action is vested in a trustee whether by way of mortgage or otherwise and it appears to the court to be expedient, the court may make an order vesting the right to transfer or call for a transfer of stock, or to receive the dividends or income thereof, or to sue for or recover the thing in action, in any such person as the court may appoint. …”

11.  The pre-conditions to section 52(1)(e) are satisfied. There is irrefutable evidence that Mrs Fong was the trustee and that each OS is taken out by the rightful beneficiary. There are no other persons entitled to any of the Subject Shares.

12.  Mr David Fong has consented to the appointment as trustee over the Holguin share. He has been managing HSH’s group of companies, including HSH since early 1990s and is currently the managing director of the group. He is a first and proper person to be appointed.

13.  I find it expedient to grant the orders sought in the respective OS.

14.  I thank Ms Leung for her assistance.