Ex-employee seeks to wind up Barry Cheung Chun-yuen's failed HKMEx

PUBLISHED : Friday, 17 January, 2014, 4:14am
UPDATED : Friday, 17 January, 2014, 4:52am

A former employee of the failed Hong Kong Mercantile Exchange is seeking to wind up the company run by former Executive Council member Barry Cheung Chun-yuen.

Andrew Carter, a former director of technology at the HKMEx, has initiated a company winding-up proceeding against the failed commodities exchange as a creditor, a court document showed.

The development is the latest twist for Cheung and his companies, which have faced civil claims over loans, bills and rent totalling more than HK$89 million since June last year.

The writ filed by Carter is not available for public inspection.

Previous media reports revealed that in October, Carter won a HK$1.4 million claim against the HKMEx before the Labour Tribunal for unpaid wages. The judgment was entered against the HKMEx in its absence. Carter, a graduate of the University of Cambridge, worked at the HKMEx between 2010 and last year.

Meanwhile, another company has filed a claim for an unspecified amount against the HKMEx with the District Court.

Intuition Publishing says in a court document that the money was owed for services provided to the HKMEx under a contract dated May 21, 2011.

In November, the Mandatory Provident Fund Schemes Authority filed a claim against the HKMEx for allegedly failing to pay HK$102,799 to the fund.

In October, the HKMEx staved off eviction from its offices in Cyberport by paying outstanding rent of up to HK$6 million.