Facts
In March 1995, a consignment of watches with a retail value of approximately HK$11 million, consigned to Duty Free Shoppers Trading (HK) Limited ("DFS") arrived in Hong Kong on a Swissair flight. The consignment was transferred to the air cargo terminal operated by Hong Kong Air Cargo Terminals Limited ("HACTL"). Jacky Maeder (HK) Limited ("Jacky Maeder"), now known as Geis Cargo JM Hong Kong Limited, acting as agents on behalf of DFS, collected a shipment release form ("SRF") from Cathay Pacific who were acting as ground handling agents for Swissair and placed the SRF in an unlocked drawer in their office. The SRF is a "bearer" document and therefore entitles the person holding it to collect the cargo covered by it from HACTL. An unknown person entered the office, stole the SRF and gave it to an innocent truck driver who collected the consignment and passed it to thieves at a carpark at Market Street in Yau Ma Tei. Despite extensive Police investigations, no one was
