Metal Recycling

Fund Flow Tracing, Investigations & Resultant Litigation

Appointed Provisional Liquidators and subsequently Liquidators of one of the largest scrap metal recycling companies in PRC (listed in Hong Kong) with operations in PRC following an application by the Securities and Futures Commission (“SFC”) pursuant to section 212 of the Securities and Futures Ordinance. Within 4 days following their appointment, the Provisional Liquidators’ investigations indicated that over HKD1 billion had been fraudulently transferred by the Group to certain entities that were the parties of the fraudulent scheme identified by the SFC during the 2 week period immediately preceding their appointment and secured worldwide Mareva Injunction Orders of HKD1.6 billion against the Chairman, his private company and other related parties. Our work primarily includes securing control over subsidiaries of the Company in BVI, Hong Kong, Macau, PRC and Singapore by removing all existing directors (and legal representatives of the PRC subsidiaries) and appointing the Provisional Liquidators and their representatives as directors (and legal representatives) , pursing investigations of the affairs of the Group, including the fraudulent activities alleged by the SFC, and pursuing various legal proceedings against parties including the Chairman and the related parties.

Key People