7 May 2020
MIU HON KIT AND OTHERS v. THE STOCK EXCHANGE OF HONG KONG LTD
- Citation
- [2020] HKCFI 675
- Court
- Court of First Instance
- Case number
- HCAL496/2019
The court held that the LAC (read with its published News Release) gave adequate reasons, applied the correct legal tests without impermissible hindsight, and legitimately concluded that the directors breached LR 3.08(f) and the Director's Undertaking by failing to ensure adequate internal controls, training and effective measures to prevent further unauthorized loans; the discretionary restriction on counsel's oral advocacy was lawfully and fairly exercised. Accordingly leave was granted but the substantive judicial review applications were dismissed and sanctions upheld.