28 Jun 2006
SECURITIES AND FUTURES COMMISSION v. WHOLE WIN SECURITIES LTD
- Citation
- SECURITIES AND FUTURES COMMISSION v. WHOLE WIN SECURITIES LTD
- Court
- Court of First Instance
- Case number
- HCMP1093/2006
Given clear, uncontested evidence of serious contraventions (material liquidity deficiency below the required HK$3,000,000, wrongful pledging of client securities without authority, failure to segregate client money, and breach of a restriction notice), and no challenge or viable alternative proposed by the defendant, the Court concluded it was desirable and necessary to appoint an administrator under s213(2)(d) to protect the investing public and clients; accordingly the Court made the order in the terms of the interim order of 31 May 2006 with a specified modification.