8 Jan 2025
SECURITIES AND FUTURES COMMISSION v. LI WING SANG AND OTHERS
- Citation
- [2025] HKCFI 190
- Court
- Court of First Instance
- Case number
- HCMP2068/2020
On the agreed facts the 2nd Respondent breached multiple duties as a director and supervisor by failing to recover a large related-party debt, failing to obtain control and oversight of a material subsidiary, failing to cause impairment provisions and permitting publication of misleading interim results; his conduct amounted to gross negligence and incompetence (but not dishonesty) and warranted a middle‑bracket disqualification; accordingly a disqualification order under s.214(2)(d) for 7 years and payment of costs HK$250,000 was appropriate and was ordered.