11 Mar 2021
SECURITIES AND FUTURES COMMISSION v. WONG KAM LEONG AND OTHERS
- Citation
- [2021] HKCFI 624
- Court
- Court of First Instance
- Case number
- HCMP667/2018
On the agreed facts the court was satisfied that conduct engaged s214(1)(b),(c) and (d) of the SFO: R4 and R5 failed to exercise independent judgment and due diligence in relation to the Acquisition Agreement, Profit Guarantee and subsequent Confirmation Letters, allowed domination by R1, and caused prejudice to the company and its members. Their breaches were primarily negligent omissions rather than active fraud. Having regard to seriousness, mitigation (including Carecraft settlement and cooperation) and purposes of disqualification, a 3-year disqualification under s214(2)(d) was appropria…