Hong Kong Case Law: Decisions & Judgments

Topic

Connected transaction (listing rules)

Legal area

Court

21 Mar 2016

HKSAR v. LEONORA YUNG, THE PERSONAL REPRESENTATIVE OF THE ESTATE OF CHENG CHEE-TOCK THEODORE, DECEASED

Citation

HKSAR v. LEONORA YUNG, THE PERSONAL REPRESENTATIVE OF THE ESTATE OF CHENG CHEE-TOCK THEODORE, DECEASED
Court

Court of Final Appeal
Case number

FACC7/2014

The convictions were quashed because the prosecution failed to prove a connected transaction as required by the Listing Rules: Cheng was not a party to the acquisition, his shareholding in SSI did not give him a proprietary interest in the 17/F property, there was insufficient evidence to establish agency or trust relationships that would make the transaction effectively between CYF and Cheng, and the Listing Rules cannot be extended by purposive construction to treat an SSI–CYF sale as a transaction 'between' CYF and Cheng; absent a connected transaction, the elements of conspiracy to defrau…
12 Jun 2014

HKSAR v. CHENG CHEE-TOCK, THEODORE

Citation

HKSAR v. CHENG CHEE-TOCK, THEODORE
Court

Court of Appeal
Case number

CACC460/2012

The court refused the certificate because the contested Listing Rules question was resolved against the applicant in a specific factual context and did not raise a point of law of great and general importance; the trial judge was entitled to find that Kenny Nam held the relevant interest on behalf of the applicant and the applicant therefore retained a financial interest in the 17/F property; extension of time to apply for the certificate was granted but certification refused and costs awarded to the respondent.

Hong Kong Case Law

HKSAR v. LEONORA YUNG, THE PERSONAL REPRESENTATIVE OF THE ESTATE OF CHENG CHEE-TOCK THEODORE, DECEASED

HKSAR v. CHENG CHEE-TOCK, THEODORE