The Hong Kong Securities and Futures Commission obtained a landmark ruling from the court, requiring former senior management of Kanghundred to compensate shareholders with 192 million Hong Kong dollars.
According to the Wise Finance APP, the Securities and Futures Commission of Hong Kong obtained an order from the original court, which will allow the public shareholders of the delisted Kangbai Holdings Limited (Kangbai) to receive the highest compensation in the form of a special dividend. In addition, Kangbai's shadow director Wu Guohui (male) and two former executive directors, Liu Tianli (male) and Li Mintao (male), have been disqualified as directors for misconduct. This court order was made after the Securities and Futures Commission reached the first similar settlement, and the three individuals were ordered to pay approximately 192 million Hong Kong dollars to a receiver jointly appointed by the Securities and Futures Commission and Kangbai for redistribution to independent public shareholders as a special dividend.
Latest