CHINA FORESTRY HOLDINGS CO., LTD. 中國森林控股有限公司

Re Mark Taylor Simpson QC
HK Court of First Instance, 31-Oct-2019
The liquidators of China Forestry Holdings Co Ltd apply to admit a UK silk to help them sue KPMG, the auditor, for over HK$1.3bn. Acting Chief Judge Jeremy Poon rejects the proposition that Solicitor-Advocates, who now have rights of audience, are an acceptable alternative to junior barristers to assist the QC. The Bar Council sent 2 Senior Counsel and 2 juniors to oppose the application, while the Secretary for Justice supported it. The quasi-trade union wins. Mr Simpson must be assisted by local barristers.
SFC fines Standard Chartered Secs HK$59.7m for sponsor failures
SFC, 14-Mar-2019
For the 2009 IPO of China Forestry (now delisted), which it jointly sponsored with UBS. Together they win our "can't see the wood OR the trees" award for epic due diligence. Notably no human at SCS is named as responsible.
SFC fines UBS HK$375m and suspends its sponsor licence for 1 year
SFC, 14-Mar-2019
Over the IPOs of China Forestry in 2009 (now delisted), Tianhe Chemicals (1619) in 2014 and a third as-yet unnamed listing application, which is almost certainly China Metal Recycling (Holdings) Ltd, listed in 2009 and ordered in 2015 to be wound up.
SFC bans Joseph Hsu Kar Hing, ex-Standard Chartered Securities, for 3 years
SFC, 17-Jul-2018
Comment: this probably relates to the China Forestry listing, jointly sponsored with UBS. Mr Hsu abandoned his appeal to the Securities and Futures Appeals Tribunal on 6-Jul-2018. The appeals by the two sponsors are set to be heard in March 2019.
SFC takes former CEO and Chairman of China Forestry (delisted) to Market Misconduct Tribunal
SFC, 28-Jun-2018
FRC probably investigating Esprit
The Government has appointed a standby Chairman and two temporary members of the Financial Reporting Council, to deal with potential conflicts of interest for its Chairman, John Poon Cho Ming, and other members. We connect the dots. (20-Sep-2015)
David Webb's alternative deal of the year awards
International Financial Law Review, 28-Feb-2012
Li Han Chun removed as director of China Forestry (0930)
Company announcement, 17-Feb-2012
China Forestry (0930): KPMG quits as auditor
Company announcement, 5-Jan-2012
China Forestry: findings of Independent Board Committee
Company announcement, 29-Apr-2011
Notably a member of the "Former Management Team" blamed by the company is the Chief Sales Officer, Li Hai Jun, who is the Chairman's brother.
China Forestry: our key subsidiary had two sets of books
Company announcement, 29-Apr-2011
...and they say former management gave false bank records to auditor.
China Forestry: compliance adviser resigns
Company announcement, 1-Apr-2011
China Forestry: breach of Listing Rules: late results
Company announcement, 18-Mar-2011
Court continues interim injunction against China Forestry's ex-CEO
SFC, 4-Mar-2011
China Forestry former CEO detained 24-Feb for suspected embezzlement of RMB30m
Company announcement, 2-Mar-2011
China Forestry: we removed Li Han Chun as CEO 4 days ago
Company announcement, 18-Feb-2011
He remains an Executive Director.
Court continues interim injunction on China Forestry CEO
SFC, 11-Feb-2011
The SFC's summons against CEO of China Forestry (0930)
HK Court of First Instance, 7-Feb-2011
China Forestry (0930) auditor identifies "possible irregularities"...
Company announcement, 31-Jan-2011
...in its first full year after listing! We wonder why Wong Tak Jun, INED, Chair Professor of Accountancy and Dean of Business Administration at CUHK, is not serving on the independent board committee set up to conduct an inquiry. His skills might come in useful.
CEO Li Hanchun sells 3.89% of China Forestry (0930) at $3.35 for HK$399m
Company announcement, 13-Jan-2011
That cuts his stake to 2.72%.

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