Hong Kong ยท Hong Kong Securities and Futures Commission (court order in the Court of First Instance under section 214 of the Securities and Futures Ordinance)
Li Hejun: director ban
Ended The SFC said the eight year order took effect on 4 September 2017. The end date of 3 September 2025 is calculated from that start and length, the SFC did not state one. On that calculation the order has run.
Grounds
The SFC said the court, acting on admissions, found the former chairman's breaches were of a very serious nature, involving a patent and serious conflict of interests, and found a lack of reasonable care over a RMB900 million loan to Hanergy Holding.1
Companies
Hanergy Thin Film Power Group Limited
Record
- Court of First Instance disqualified Li for eight years and four independent non-executive directors for three to four years, with effect that day.1
Sources
- Hong Kong Securities and Futures Commission, SFC obtains disqualification and court orders against former chairman and current directors of Hanergy Thin Film Power Group Limited (4 September 2017)
A disqualification restricts acting as a company director for the period stated. It is a civil measure and is not a criminal conviction unless stated. How bans work.