The Decision in Akai: The Interaction of Apparent Authority and Knowing Receipt
7 Pages Posted: 5 Apr 2011
Date Written: April 4, 2011
The recent decision of Hong Kong's Court of Final Appeal in Thanakharn Kasikorn Chamkat (Mahachon) v Akai Holdings Ltd ( HKEC 1692, CFA) illustrated the interaction of parallel claims in the tort of conversion and for knowing receipt when a director wrongly claims to be entitled to give a lender security over corporate assets that are then disposed of in exercise of the lender's (non-existent) security rights.
Keywords: Company law, security, agency, apparent authority, knowing receipt
JEL Classification: K11, K12
Suggested Citation: Suggested Citation