Clifford Chance

Hong Kong court orders disqualification and repayment as SFC targeting of directors intensifies

24 February 2017

In a newly published judgment, the Hong Kong Court of First Instance has ordered that three former directors of First Natural Foods Holdings Limited (the Company) be disqualified from acting as directors for up to twelve years and that the former chairman repay more than HK$84 million allegedly embezzled from the Company.  The judgment comes as the Securities and Futures Commission (SFC) intensifies the targeting of corporate entities and directors it suspects of misfeasance.

 

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