SECURITIES AND FUTURES COMMISSION v. SUPERB SUMMIT INTERNATIONAL GROUP LTD AND OTHERS

SECURITIES AND FUTURES COMMISSION v. SUPERB SUMMIT INTERNATIONAL GROUP LTD AND OTHERS

On the admitted and agreed facts the Court was satisfied all three statutory conditions under s214 were met and that the conduct amounted to oppressive, defalcation/misfeasance, misleading disclosure and unfairly prejudicial conduct; accordingly the Court made disqualification orders reflecting the gravity and mitigating factors: 5th respondent (Lee Chi Kong) disqualified for 10 years; 7th, 8th and 10th respondents disqualified for 5 years each; 15th respondent disqualified for 7 years; costs ordered as between parties consistent with Carecraft agreements.

Citation
[2025] HKCFI 2682
Parties
Petitioner: Securities and Futures Commission; 1st Respondent: Superb Summit International Group Limited; 2nd Respondent: Yang Dongjun; 3rd Respondent: Jing Bin; 4th Respondent: Wu Tao; 5th Respondent: Lee Chi Kong; 6th Respondent: Chan King Chung; 7th Respondent: Lam Ping Kei; 8th Respondent: Wong Choi Fung; 9th Respondent: Law Wai Fai; 10th Respondent: Yeung Kwong Lun; 11th Respondent: Li Jun; 12th Respondent: Cheng Man For; 13th Respondent: Qiu Jizhi; 14th Respondent: Chan Chi Yuen; 15th Respondent: Wong Yun Kuen; 16th Respondent: Zhu Guang Qian
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
2 July 2025
Case Number
HCMP2305/2020
Procedural Posture
Section 214 SFO Disqualification Petition / Carecraft Summary Disposal and Reasons for Decision (final Orders)
Outcome
Disqualification orders made under section 214 of the SFO following Carecraft summary disposal; costs ordered.
Legal Topics
Director Disqualification, Misfeasance, Defalcation/misappropriation, Misleading Disclosure, Due Diligence Failures
Source Language
EN
Securities Law Company Law Regulatory Enforcement Director Disqualification Misfeasance Defalcation/misappropriation Misleading Disclosure Due Diligence Failures

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Parties

Securities and Futures Commission

Petitioner

Superb Summit International Group Limited

1st Respondent

Yang Dongjun

2nd Respondent

Jing Bin

3rd Respondent

Wu Tao

4th Respondent

Lee Chi Kong

5th Respondent

Chan King Chung

6th Respondent

Lam Ping Kei

7th Respondent

Wong Choi Fung

8th Respondent

Law Wai Fai

9th Respondent

Yeung Kwong Lun

10th Respondent

Li Jun

11th Respondent

Cheng Man For

12th Respondent

Qiu Jizhi

13th Respondent

Chan Chi Yuen

14th Respondent

Wong Yun Kuen

15th Respondent

Zhu Guang Qian

16th Respondent

Procedural Posture

Section 214 SFO Disqualification Petition / Carecraft Summary Disposal and Reasons for Decision (final Orders)

Legal Issues

  1. 1 Whether the conduct of the company and its directors fell within s214(1)(a)-(d) of the SFO
  2. 2 Whether the three statutory conditions for relief under s214 were satisfied
  3. 3 Appropriate scope and duration of director disqualification orders

Ratio Decidendi

On the admitted and agreed facts the Court was satisfied all three statutory conditions under s214 were met and that the conduct amounted to oppressive, defalcation/misfeasance, misleading disclosure and unfairly prejudicial conduct; accordingly the Court made disqualification orders reflecting the gravity and mitigating factors: 5th respondent (Lee Chi Kong) disqualified for 10 years; 7th, 8th and 10th respondents disqualified for 5 years each; 15th respondent disqualified for 7 years; costs ordered as between parties consistent with Carecraft agreements.

Court Disposition

Disqualification orders made under section 214 of the SFO following Carecraft summary disposal; costs ordered.

Orders

  • 5th Respondent Lee Chi Kong disqualified from acting as director or in management of any corporation for 10 years without leave of the Court
  • 7th Respondent Lam Ping Kei disqualified from acting as director or in management of any corporation for 5 years without leave of the Court