NewsHong Kong

Ex-Chinachem CEO David Hui facing lawsuit

PUBLISHED : Thursday, 15 August, 2013, 12:00am
UPDATED : Thursday, 15 August, 2013, 4:00am
 

Two companies related to the Chinachem Group have filed a lawsuit against the group's former chief executive for breaching his fiduciary duties and are claiming damages, according to a High Court writ.

Chinachem Agencies Limited and Chinachem Financial Services Limited claim that David Hui Yip-wing breached the employment contract signed between Chinachem Agencies and Hui on September 30, 2011.

The two companies have asked the court to order Hui to provide a list of documents, including the group's meeting notes and minutes.

The requested materials also include the executive committee's resolutions relating to litigation between the group and a mainland company, China Small and Medium Enterprise Investment Company Limited.

They also asked the court to grant an injunction barring Hui from using, disclosing or making use of the confidential documents and information for any purpose.

The two companies are seeking damages from Hui, accusing him of breach of confidence in his capacity as a director and senior executive of the two companies.

Accountancy firm Deloitte, the administrator of the estate of Nina Wang Kung Yu-sum, appointed Hui as the group general manager and director in 2009.

Hui resigned as chief executive of the group in November.

 

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