Yakun Shao v Qian Peng and Others [2016] NSWSC 1444

Supreme Court New South Wales

Medium Neutral Citation: Yakun Shao v Qian Peng and Others [2016] NSWSC 1444 Hearing dates: 10 October 2016 Date of orders: 10 October 2016 Decision date: 11 October 2016 Jurisdiction: Equity - Expedition List Before: Sackar J Decision: See paragraphs [13] and [19] Catchwords: EQUITY – breach of trust – repayment of trust monies Cases Cited: Youyang Pty Ltd v Minter Ellison Morris Fletcher (2003) 212 CLR 484 Young v Murphy [1996] 1 VR 279 Wickstead v Browne (1992) 30 NSWLR 1 Category: Principal judgment Parties: Yakun Shao (Plaintiff and cross-defendant) Qian Peng (Defendant and cross-claimant) Representation: Counsel: M Einfeld QC and P Newton (Plaintiff) Unrepresented (Defendant)

Solicitors: Yau & Wang Lawyers (Plaintiff) Juris Cor Legal (Defendant) File Number(s): 2016/68834 Publication restriction: N/A

EX TEMPORE Judgment 1. The plaintiff (Ms Shao) and the defendant (Mr Peng) were married in October 2013 in China. They separated on 12 April 2015 and divorced on 7 July 2016. 2. In these proceedings, Ms Shao seeks the recovery of monies which she alleges were wrongfully used and appropriated by Mr Peng on two separate occasions after they had separated. The substantial part of the claim relates to monies technically invested by Ms Shao and Mr Peng with Crown Global Capital Pty Limited ('Crown') but repaid only to Mr Peng. The other part of the claim concerns monies withdrawn by Mr Peng from a joint account with the Commonwealth Bank of Australia ('CBA'). 3. By way of Amended Cross-Claim, Mr Peng had sought various declarations and orders in relation to monies in bank accounts, loans, a property purchased by Ms Shao in Belrose prior to their marriage, "investment properties", shares and the adjustment of property interests pursuant to ss 78 and 79 Family Law Act 1975 (Cth). 4. On Friday last, 7 October 2016, at approximately 1:55pm, my Associate received an email from the defendant's solicitor informing me that the defendant would not participate in the trial and would only make a submitting appearance. That was formalised by a document entitled "Submitting Appearance" which stated that "Qian Peng Defendant/Cross-Claimant appears and submits to the making of all orders sought, and the giving or entry of judgment in respect of all claims made." 5. The matter proceeded before me today accordingly and took the form of an ex parte hearing. At my request the defendant's solicitor briefly appeared to confirm his instructions and was then excused from further attendance.