Australia Yinmore Holding Pty Ltd v Liu

Australia Yinmore Holding Pty Ltd v Liu involved a dispute concerning the ownership of shares, real property, and a motor vehicle. The plaintiffs, Australia Yinmore Holding Pty Ltd and Liu, sought declarations that the respondent held these assets on trust for them. The respondent, who had been sent to Australia by a Chinese parent company to work on a project, was employed by and allotted shares in the Australian company. The Chinese company provided the funds for the shares, real property, and motor vehicle, but the respondent did not pay the allotment price for the shares and registered the real property and motor vehicle in his own name. The court had to decide whether the respondent could rebut the presumption that he held these assets on a resulting trust for the plaintiffs.

The court examined whether the respondent could demonstrate an intention to benefit the plaintiffs, thereby displacing the presumption of a resulting trust. Regarding the shares, the court found that the respondent had not provided any evidence to rebut the presumption that he held the shares on trust for the plaintiffs. As for the real property, the court held that the respondent's assertion about the director's intention was not supported by the evidence. The court also determined that the respondent could not rebut the presumption that he held the motor vehicle on trust for the plaintiffs, as there was insufficient evidence of an intention to benefit the plaintiffs.

Consequently, the court declared that the respondent held the shares, real property, and motor vehicle on a resulting trust for the plaintiffs. The respondent was ordered to transfer the shares, deliver the certificate of title for the real property, and deliver possession and transfer the registration of the motor vehicle to the plaintiffs. The counterclaim was dismissed, and the plaintiffs were granted liberty to apply on two days' notice in writing to the other party.