2 Apr 2020
SECURITIES AND FUTURES COMMISSION v. TONG SHEK LUN AND OTHERS
- Citation
- [2020] HKCFI 435
- Court
- Court of First Instance
- Case number
- HCMP2386/2014
On the agreed undisputed facts the court was satisfied the company’s affairs were conducted in a manner within s214(1)(a)-(d): Tong caused/permured reduction of the SPA consideration, diverted a US$1,000,000 consultancy opportunity to his company and caused material non-disclosure of the Consultancy Agreement making the transaction a connected/major transaction; Ko and Chung failed to exercise reasonable skill and care. The court made disqualification orders (Tong 7 years from 16 March 2018 to 9 August 2023; Ko and Chung 5 years from 16 March 2018 to 9 August 2021) and ordered the three respo…