Hong Kong Case Law: Decisions & Judgments

Topic

Carecraft settlement

Legal area

Court

30 Dec 2025

SECURITIES AND FUTURES COMMISSION v. LI HUI AND OTHERS

Citation

[2025] HKCFI 6449
Court

Court of First Instance
Case number

HCMP896/2022

On the admitted and agreed material facts the Court was satisfied the Company and its subsidiary engaged in fictitious transactions and published false or misleading statements such that the conduct fell within s214(1)(a)-(d); the 4th Respondent was negligent in approving payments and allowing publication and a discretionary disqualification under s214(2)(d) for three years was appropriate; a carve‑out for Star Point Limited was granted as it is a small private family property company unconnected to the misconduct.
24 Jan 2024

SECURITIES AND FUTURES COMMISSION v. LAM WO PING AND OTHERS

Citation

[2024] HKCFI 315
Court

Court of First Instance
Case number

HCMP2328/2019

On the agreed facts the company’s affairs were conducted in a manner engaging s.214(1)(b),(c) and (d); the 4th respondent as CFO breached duties of care, skill and diligence by failing to verify and disclose extensive deposit pledges, but having regard to his limited role, cooperation, admission of liability, mitigating factors and personal circumstances the appropriate and proportionate remedy was a 2‑year disqualification confined as agreed together with a costs order of HK$500,000 payable on or before 6 March 2024.
9 Mar 2022

SECURITIES AND FUTURES COMMISSION v. YU LONGRUI AND OTHERS

Citation

[2022] HKCFI 653
Court

Court of First Instance
Case number

HCMP1112/2019

On the agreed facts the Court was satisfied the Company’s business/affairs were conducted in the manner described in s214(1)(b),(c),(d) of the SFO; R2 and R7 were respectively partly responsible and disqualification orders under s214(2)(d) were justified. Having applied the established three‑bracket and Warderly criteria and allowed mitigation for cooperation and Carecraft settlement, the Court ordered disqualification of R2 for six years (with a carve‑out for EM Management (Hong Kong) Limited) and R7 for 1.5 years (with a carve‑out for Fan, Chan & Co. Limited), together with agreed costs pay…
5 Oct 2005

RE ASEAN INTERESTS LTD

Citation

RE ASEAN INTERESTS LTD
Court

Court of First Instance
Case number

HCCW1233/2000

The court granted a permanent stay because the applicants discharged the burden to show the restructuring was bona fide and in creditors' interests, liquidators supported the proposal, creditors would receive better returns than in liquidation, public policy concerns raised by the liquidators were remedied by repayments, subordination and conversion undertakings, settlement of contingent liabilities, and by a Carecraft disqualification order against Mr Vaswani; accordingly the balance favoured granting the stay subject to the terms and undertakings secured.

Hong Kong Case Law

SECURITIES AND FUTURES COMMISSION v. LI HUI AND OTHERS

SECURITIES AND FUTURES COMMISSION v. LAM WO PING AND OTHERS

SECURITIES AND FUTURES COMMISSION v. YU LONGRUI AND OTHERS

RE ASEAN INTERESTS LTD