Official Receiver v Zhi Charles, formerly known as Chang Hyun Chi, and Joint and Several Trustees of the Estate of Chan Hyun Chi, the Bankrupt (FACV 8/2015)

In the recent case Kam Leung Sui Kwan v Kam Kwan Lai & Ors FACV 4/2015 (11 November 2015), the Hong Kong Court of Final Appeal (“CFA”) ordered the ultimate foreign holding company of a world famous roast goose restaurant in Hong Kong, Yung Kee Holdings Limited (“Yung Kee”) to be wound up on the grounds that it is just and equitable to do so pursuant to section 327(3)(c) of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) (“Section 327(3)(c)”).

New disclosure requirements imposed on listed companies under the Securities and Futures Ordinance (“SFO”) have been effective since on 1 January 2013.

Under these requirements, a listed company is obliged to disclose inside information as soon as reasonably practicable when the information has or ought reasonably have come to the knowledge of an officer of the listed company.