10 Feb 2010
TSE KWOK FAI SAMMY v. INSIDER DEALING TRIBUNAL AND ANOTHER
- Citation
- TSE KWOK FAI SAMMY v. INSIDER DEALING TRIBUNAL AND ANOTHER
- Court
- Court of Appeal
- Case number
- CACV112/2007
The Court upheld the Tribunal's factual findings and inferences: the Hutchison proposals were relevant, price‑sensitive information; appellants were, to a high degree of probability, in possession of or recipients of that information and dealt in Vanda accordingly; the Tribunal applied an appropriate high civil standard; Harbour Ring evidence was admissible to rebut coincidence; therefore the appeals are dismissed (save that financial penalties under s23(1)(c) were set aside in light of Koon Wing Yee), and the Tribunal's disqualification and disgorgement orders otherwise stand.