Convoy Global Adds Billionaire To Respondents List
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2018-03-06 HKT 15:45
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Billionaire Francis Choi, nicknamed "the King of Toys", has been added as one of the respondents accused of misappropriation of funds by Convoy Global, which is at the centre of an ICAC probe.
The troubled financial firm has listed 28 people as respondents including missing former director Roy Cho and former chairman Quincy Wong.
It is seeking more than HK$700 million as compensation from 13 of the defendants. The High Court will hear the case in July.
Earlier this year, two Convoy shareholders also took the company and its directors to court, seeking to overturn a 2015 share placement by the firm.
One of the cases by major shareholder Kwok Hiu-kwan will be heard in August but the other one by Zhao Xiaoyan has been suspended for the time being.
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