On 29 April 2020, the Competition Tribunal handed down its first judgment on financial penalties in a competition case in Hong Kong. The Tribunal had earlier found that the respondents, ten flat decorators, had contravened...more
China has placed stringent travel and quarantine restrictions on people entering the country and moving from one part of the country to another as part of the effort to contain the COVID-19 outbreak. Corporations with...more
The Hong Kong Court of Appeal has suggested that a previous Court decision may have overstepped the mark by suggesting that an arbitration clause in a client agreement should generally take precedence over a creditor's right...more
On 6 June, 2019, the Privacy Commissioner for Personal Data (the “PCPD“) issued an enforcement notice against Cathay Pacific Airways (and its affiliate Hong Kong Dragon Airlines) (together, “Cathay Pacific“) in respect of a...more
The English High Court, in Triumph Controls UK Ltd v Primus International Holding Co [2019] EWHC 565 (TCC), has found that proper, accurate financial projections by the sellers would have resulted in a lower purchase price...more
4/8/2019
/ Aerospace ,
Breach of Warranty ,
Damages ,
Defense Sector ,
Disclosure ,
Inflated Projections ,
Multinationals ,
Purchase Price ,
Revenue ,
Selling a Business ,
Share Purchase Agreements ,
UK ,
UK Supreme Court
The Court of Appeal has upheld a "springboard" injunction (albeit reduced in scope) in the latest case to deal with the issue of unlawful "team lifts"....more
On 12 October 2018, the Court of Final Appeal (CFA) found former executives of a listed company, Asia TeleMedia Limited (ATML) culpable for insider dealing. The majority four to one decision examines the "innocent purpose"...more
On 4 July 2018, the Court of Appeal in the UK handed down its judgment in AAA and Others v Unilever PLC and Another [2018] EWCA Civ 1532, in which the claimants sued Unilever PLC (Unilever) in tort for acts of its subsidiary...more
In March, the UK Supreme Court handed down a landmark judgment, in which it held that:
- contempt of court constitutes unlawful means for the purposes of the tort of unlawful means conspiracy, giving rise to a private...more
A recent UK Supreme Court case has decided that the current test for dishonesty in criminal proceedings should no longer be used when directing juries on the law in criminal cases. The Ghosh test, which has represented...more
In late February, the SFC published its Enforcement Reporter setting out its enforcement priorities and approaches for 2018. The SFC emphasized its enhanced cross-divisional collaborative approach with more targeted...more
3/12/2018
/ Consumer Financial Products ,
Corporate Fraud ,
Corporate Misconduct ,
Corruption ,
Cross-Border Transactions ,
Enforcement Actions ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Hong Kong Stock Exchange ,
Insider Trading ,
Money Laundering ,
White Collar Crimes
The Hong Kong Court has confirmed that a bank notified of a freezing injunction does not owe a duty of care to the party in whose favour the injunction is granted. ...more
This case is the latest in a line of cases before the English courts about parent company liability, specifically the duty of care owed for activities of their subsidiaries. ...more
The Market Misconduct Tribunal (MMT) recently disagreed with the Securities and Futures Commission, holding that an executive director and a number of non-executive directors did not commit the market misconduct of...more
In another decision against the SFC, the Market Misconduct Tribunal ("MMT") has found Mr Cheng Chak Ngok ("Mr Cheng"), former executive director, chief financial officer and company secretary of ENN Energy Holdings Limited,...more
The question of how willing the court is to impose fiduciary duties on a person informally involved in a company has, to an extent, been answered by the case of Karla Otto Ltd v Bulent Eren Bayram (24 February 2017). Such...more