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Mainland China court claims jurisdiction over Hong Kong-listed company in investor lawsuit

Mainland China court claims jurisdiction over Hong Kong-listed company in investor lawsuit
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A mainland Chinese court has claimed jurisdiction over an investor lawsuit against a Hong Kong-listed firm for the first time, with the move likely to increase scrutiny of corporate disclosures. Mainland investors filed the lawsuit with the Beijing Financial Court, alleging that an overseas-incorporated company had failed to disclose irregular loans, unauthorised guarantees and related-party transactions in 2017 and 2018, in violation of Hong Kong’s listing rules, according to a recent...

A mainland Chinese court has claimed jurisdiction over an investor lawsuit against a Hong Kong-listed firm for the first time, with the move likely to increase scrutiny of corporate disclosures. Mainland investors filed the lawsuit with the Beijing Financial Court, alleging that an overseas-incorporated company had failed to disclose irregular loans, unauthorised guarantees and related-party transactions in 2017 and 2018, in violation of Hong Kong’s listing rules, according to a recent report by...
Mainland China (ORG) Hong Kong (LOCATION) Chinese (ORG) the Beijing Financial Court (ORG) Hong Kong’s (LOCATION)
Originally published by South China Morning Post Read original →