24 Feb 2022
SECURITIES AND FUTURES COMMISSION v. LU RUIFENG AND OTHERS
- Citation
- [2022] HKCA 326
- Court
- Court of Appeal
- Case number
- CACV50/2022
The Court held that (1) the Judge’s order allowing the new claim determined in a summary way the substantive rights of China United and therefore fell within Order 59 r21(1)(a) so that leave to appeal was not required; and (2) on the merits the Commission failed to show China United had no reasonably arguable limitation defence because, to the extent the claim seeks monetary compensation for certain categories of purchasers, it is reasonably arguable that the claim is an action to recover a sum recoverable by virtue of the SFO and therefore may attract the 6-year limitation in s4(1)(d) LO; ac…