ANZ Commodity Trading Pty Ltd v Excellence Raise Overseas Limited and Others (Hong Kong Court of Final Appeal FACV No. 5 of 2026; [2026] HKCFA 32)

Procedural record

1. 13 October 2026Hong Kong

   13 October 2026Hong Kong

   Judgment of the Court of Final Appeal of the Hong Kong Special Administrative Region in the case FACV No. 5 of 2026 dated 13 October 2026

   Court of Final Appeal of the Hong Kong Special Administrative Region

   Case no.

   FACV No. 5 of 2026 (Civil)

   Citation

   [2026] HKCFA 32

   Decision summary

   The Court unanimously allowed the appeal, set aside the judgment against the appellants, and ordered ANZ to pay the appellants' costs. It held that rescission for innocent misrepresentation required a court order that ANZ had neither sought nor obtained, and that the appellants were not liable to account for the money paid by ANZ to MCM.

   Participants

   ANZ Commodity Trading Pty Ltd

   Representative

   Charles Sussex SC (For: ANZ Commodity Trading Pty Ltd)

   Representative

   Derek JY Chan (For: ANZ Commodity Trading Pty Ltd)

   Representative

   Cyrus Chua (For: ANZ Commodity Trading Pty Ltd)

   Representative

   Holman Fenwick Willan (For: ANZ Commodity Trading Pty Ltd)

   Excellence Raise Overseas Limited

   Representative

   Victor Joffe SC (For: Excellence Raise Overseas Limited · Jolly Admire Limited · High Express Holdings Limited)

   Representative

   Kenny Lin (For: Excellence Raise Overseas Limited · Jolly Admire Limited · High Express Holdings Limited)

   Representative

   Jason Kung (For: Excellence Raise Overseas Limited · Jolly Admire Limited · High Express Holdings Limited)

   Representative

   Myra Li & Co (For: Excellence Raise Overseas Limited · Jolly Admire Limited · High Express Holdings Limited)

   Come Harvest Holdings Limited

   Mega Wealth International Trading Limited

   Wong Wai Kwok

   Ko Siu Mei Hamay

   Siu Chung Hang

   Zhuhai Hengqin De Feng International Trading Company Limited

   Zhuhai Titan International Trading Corporation

   Jolly Admire Limited

   Representative

   Victor Joffe SC (For: Excellence Raise Overseas Limited · Jolly Admire Limited · High Express Holdings Limited)

   Representative

   Kenny Lin (For: Excellence Raise Overseas Limited · Jolly Admire Limited · High Express Holdings Limited)

   Representative

   Jason Kung (For: Excellence Raise Overseas Limited · Jolly Admire Limited · High Express Holdings Limited)

   Representative

   Myra Li & Co (For: Excellence Raise Overseas Limited · Jolly Admire Limited · High Express Holdings Limited)

   High Express Holdings Limited

   Representative

   Victor Joffe SC (For: Excellence Raise Overseas Limited · Jolly Admire Limited · High Express Holdings Limited)

   Representative

   Kenny Lin (For: Excellence Raise Overseas Limited · Jolly Admire Limited · High Express Holdings Limited)

   Representative

   Jason Kung (For: Excellence Raise Overseas Limited · Jolly Admire Limited · High Express Holdings Limited)

   Representative

   Myra Li & Co (For: Excellence Raise Overseas Limited · Jolly Admire Limited · High Express Holdings Limited)

   Court of Final Appeal of the Hong Kong Special Administrative Region

   Judge

   Chief Justice Cheung

   Judge

   Mr Justice Ribeiro PJ

   Judge

   Mr Justice Fok PJ

   Judge

   Mr Justice Lam PJ

   Judge

   Mr Justice Keane NPJ

   Authorities cited

   36

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     case-law
   • Foskett v McKeown ([2001] 1 AC 102)
     case-law
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     case-law
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     case-law
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     case-law
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     case-law
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     case-law
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     case-law
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     case-law
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     case-law
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     case-law
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     case-law
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     case-law
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     case-law
   • Spence v Crawford ([1939] 3 All ER 271)
     case-law
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     case-law
   • Re Glubb ([1900] 1 Ch 354)
     case-law
   • Bainbridge v Bainbridge ([2016] WTLR 943)
     case-law
   • Wright v National Westminster Bank PLC ([2014] EWHC 3158 (Ch))
     case-law
   • Load v Green ((1846) 15 M&W 216)
     case-law
   • Car & Universal Finance Co Ltd v Caldwell ([1965] 1 QB 525)
     case-law
   • Lipkin Gorman (a firm) v Karpnale ([1991] 2 AC 548)
     case-law
   • Vandervell v IRC ([1967] 2 AC 291)
     case-law
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     case-law
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     case-law
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     case-law
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     case-law
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     case-law
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     case-law
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     case-law
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     case-law
   • Misrepresentation Ordinance (Hong Kong, Cap. 284) (Misrepresentation Ordinance (Cap. 284))
     statute
   • Rules of the High Court (Hong Kong, Cap. 4A) (Order 18 Rule 7(4))
     rules