Re John Chan Loong Fai
HK Court of First Instance, 2-Aug-2019
The court dismisses the challenge of the Official Receiver to the appointment of Alan Tang Chung Wah, of SHINEWING Specialst Advisory Services, as trustee of the bankrupt person, John Chan Loong Fai. The court rules that if the OR has a problem with a liquidator then they should be referred to the relevant disciplinary body.
HK Settlers Housing Corp financial statements, 31-Mar-2017
Company filing, 10-Oct-2018
The company is limited by guarantee with 7 members. All the 7 directors are associated either with Henderson Land (0012) or Bank of East Asia (0023), which is also its banker and manager of HK$484m of securities. The audit report is qualified because the firm fails to revalue its investment properties, which are held at $1. It owns the Tai Hang Sai Estate in Shek Kip Mei, and in today's policy address, that is up for redevelopment. The land was granted in 1961 at a concessionary premium and the 1600+ flats are leased at below-market rates.
Elliott International v BEA (0023) & others
HK Court of First Instance, 7-Sep-2018
Justice Jonathan Harris grants Elliott permission to publish the Points of Defence and the Points of Reply, in the interests of open justice. The broader question, in our view, is why, in the 21st century, are written submissions and other documents for open hearings not filed electronically and made available for free via the judiciary web site?
Elliott International v BEA (0023) & others
HK Court of First Instance, 28-Aug-2018
10 months after a hearing, Jonathan Harris orders discovery on both sides, including "documents recording Elliott’s strategy at the time of its investment".
Elliott International v BEA (0023) & others
HK Court of First Instance, 13-Jul-2018
Nearly 11 months after his decision, Jonathan Harris gives reasons for dismissing BEA's strike-out petition. Elliott claims that the share placements to SMBC and Caixa and voting undertakings were for an improper purpose, to entrench control of BEA by David Li and his family. BEA claims that Elliott has a collateral purpose, to facilitate a takeover of BEA. Our view: when shareholders seek to remedy an alleged wrong done by the board of their company, the benefits that flow from that are irrelevant. In corporate governance, boards are accountable to shareholders, not the reverse.
China Medical Technologies liquidators sue BEA (0023)
Company announcement, 6-Mar-2017
China Medical Technologies, Inc. v BOCHK & Bank of East Asia
HK Court of Appeal, 3-Nov-2016
Elliott Management's web site on BEA (0023)
Company web site, 4-Feb-2016
SFC bans Liu Hsiang Wen for 8 months
SFC, 25-Jan-2016
She failed to disclose a Taiwan criminal conviction to the SFC and to Bank of East Asia when applying for a new job. She was convicted on 10-Aug-2010 but carried on working for CITIC Securities in HK until 1-Jun-2012, then BEA until 8-Sep-2014.
China Medical Technologies, Inc. v BOCHK & Bank of East Asia
HK Court of First Instance, 15-Dec-2015
Elliott companies v BEA (0023) and its directors
HK Court of First Instance, 5-Jun-2015
Damning stuff - the proposed subscription by SMBC was dealt with by a memorandum from the Chairman/CEO David Li on 1-Sep-2004, with "the signing of the memorandum, without discussion, by all directors indicating their approval". No board meeting until 14-Jan-2015. "Goldman Sachs were only engaged after Elliott began to object to the Proposed Subscription...I do not think it takes an especially skeptical turn of mind to suspect that the Board wanted to justify its earlier decision if at all possible" - Justice Jonathan Harris.
Former BEA (0023) Sen VP & 3 others charged with bribery, false accounting
ICAC, 7-Jan-2015
Thomas Kwok stays on BEA (0023) board for now
Company announcement, 22-Dec-2014
So did David Li Kwok Po in 2008 after he settled the Dow Jones insider dealing charges with the US SEC with a US$8.1m civil penalty.
HK media worries over China’s reach as ads disappear
New York Times, 11-Jun-2014
SFC bans Mr Chak Tsz Hoi, ex-Bank of East Asia, foreverReasons for sentence (Chinese)
SFC, 4-Mar-2014
Court declares Rafael Hui bankrupt
RTHK, 27-Nov-2013
Lender hits embattled Hui with demand for HK$9.8m
HK Standard, 21-Aug-2013
Hereditary "independent" directorship at COLI (0688)
Company announcement, 18-Mar-2013
David Li Kwok-po, who has been "independent" non-exec director of COLI for nearly 21 years since its IPO, is succeeded by his son, Brian David Li Man-bun. Their Bank of East Asia has been a banker to COLI since the IPO too, so the business relationship makes them non-independent in our view.
BEA trader jailed for concealing big loss
RTHK, 14-Jun-2011
Clark Chang Chi Hwa v Shanghai Commercial Bank & BEA
HK Court of First Instance, 17-May-2011
Clark Chang Chi Hwa v Shanghai Commercial Bank & BEA
HK Court of First Instance, 21-Apr-2011
SFC/HKMA settlement agreement with 16 banks over Lehman Minibonds, 22-Jul-2009
Company filing, 8-Oct-2010
HKMA says Hong Kong banking system is sound
HK Monetary Authority, 24-Sep-2008
Restatement of interim results: equity derivatives trader manipulated valuations
Company announcement, 18-Sep-2008
David Li Kwok Po resigns from Executive Council
HK Government, 16-Feb-2008
Letter to Donald Tsang editor David Webb has written to Hong Kong's Chief Executive with the results of our opinion poll on whether David Li Kwok Po should leave the Executive Council. (15-Feb-2008)
Webb on "Backchat" re David Li resignation campaign
RTHK, 12-Feb-2008
SEC investigation and settlement
Company announcement, 6-Feb-2008
Resign, Mr Li
Early today HK time, avoiding local press coverage, the US SEC announced David Li's HK$63.2m settlement of charges of insider tipping in the Dow Jones case. We call on him to do the honourable thing and resign as a member of Hong Kong's cabinet and legislature. (6-Feb-2008)
SEC Charges Former Dow Jones Board Member, Three Other Hong Kong Residents in US$24 Million Insider Trading Settlement
US SEC, 5-Feb-2008
SEC v Wong Kan King, Charlotte Leung Ka On, Michael Leung Kai Hung & David Li Kwok Po
US SEC, 5-Feb-2008
Alleged breaches of the Exchange Act by David Li Kwok Po
Company announcement, 19-Jul-2007
Court of First Instance delivers its judgement on the appeals by William Mong Man Wai
SFC, 24-Mar-2005
SFC v William Mong Man Wai
HK Court of First Instance, 24-Mar-2005
SFC prosecutes William Mong Man Wai under the securities (disclosure of interests) ordinance
SFC, 30-Aug-2004
Almost No Mandate
The tide is turning in Hong Kong's battle for pre-emptive rights. In a close shareholder vote, the board of HKEx almost lost its general mandate to issue new shares, by asking for a 20% cash mandate, against the recommendations of Project Vampire. And this is the company whose subsidiary makes the Listing Rules which allow such mandates in the first place. Things weren't much better over at Bank of East Asia, either. (5-Apr-2004)
Bank of East Asia voting recommendations
The first AGM of the year in Project Poll is on 31-Mar-04, beating HKEx by a few hours. We produce our voting recommendations, including a vote against the re-election of a not-so-independent INED and against the general mandate. (15-Mar-2004)
Minutes of AGM 2003
Company web site, 28-Apr-2003
Results of AGM
Company announcement, 26-Mar-2003
Bank of East Asia Voting Recommendations
The first AGM in Project Poll is on 25-Mar-03, and we produce our voting recommendations, including a vote against the re-election of Lee Shau-kee and against the general mandate. (16-Mar-2003)

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