7 Jul 2020
SECURITIES AND FUTURES COMMISSION v. CHIN JONG HWA AND OTHERS
- Citation
- [2020] HKCFI 1457
- Court
- Court of First Instance
- Case number
- HCMP891/2014
The 1st Respondent failed to discharge the burden to show exceptional circumstances. Protection of potential creditors and investors remains necessary despite wholly owned status; assertions of PRC regulatory risk were unsupported by independent evidence and the cited PRC provision did not require the applicant to be director; the asserted tax consequences were irrelevant because preferential treatment did not depend on his continuing as director. Therefore leave was refused and the summons dismissed.