Simsen Capital Finance Ltd v Jiang Quanlong, Chairman of China Rare Earth (0769) and Pan Asia Environmental Protection (0556)Loan announcement
HK Court of First Instance, 16-Mar-2017
The defence case involves a tale of Macau gambling debts and the people behind Imperial Pacific (1076). The original loan was announced by Simsen (now Huarong International Financial Holdings Ltd) on 27-Jun-2014, but it did not disclose the borrower. The plaintiff's application for summary judgment in the amount of HK$212m is dismissed. The court rules that there is a triable issue as to whether the loan is enforcable.
New Training Professional Ltd v China Rare Earth Holdings Ltd
HK Court of Appeal, 19-Jul-2010
New Training Professional Ltd v China Rare Earth Holdings Ltd
HK Court of First Instance, 6-May-2009
CSFB's Toxic Convertibles lifts the lid on the toxic convertibles scam in HK, in which small, mostly naive companies surrender control over future equity issuance to an investment bank, whose principal interest is to lock in a profit by converting bonds on a rolling basis at a deep discount to market and selling the resulting shares. CSFB has led the way down this value-destroying path, with Merrill Lynch recently joining the fray. We estimate that the banks make a gross profit on money raised of about 31%, and the average stock price has fallen 30% since a toxic convertible was launched. If you are a listed company, just say no. If you are an institutional investor, take your business elsewhere. (8-Jun-2005)
Conclusion of investigation by SFC under s179 of SFO
Company announcement, 4-Feb-2004
Breach of Listing Rule 14.25(1)
Company announcement, 13-Aug-2003
Investigation by SFC under s179 of SFO
Company announcement, 4-Jul-2003
China Rare Earth (0769): investigation under s179 of SFO
SFC, 4-Jul-2003
Breach of Listing Agreement & resignation of new auditors
Company announcement, 26-Apr-2003
Resignation of auditors
Company announcement, 24-Mar-2003

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