The Government yesterday mounted a final effort to put two former executives of the Allied Group property empire back on trial over what the prosecution branded 'a startling commercial fraud' committed more than a decade ago.
Former group chairman Lee Ming-tee, 59, and ex-finance director Ronald Tse Chu-fai, 48, were freed last July when Mr Justice Pang Kin-kee ordered the Court of First Instance case permanently halted.
The pair had been accused of a fraud conspiracy concerning the placement of millions of shares in the early 1990s, allegedly involving about $673 million. They were charged in 1998.
The case was prevented from proceeding to trial as Mr Justice Pang found the authorities had abused their powers and prejudiced the case in the course of a high-profile inquiry into the group under the Companies Ordinance.
Michael Thomas SC, for the Government, argued in the Court of Final Appeal yesterday that the judge's ruling was erroneous and should be set aside. 'If a stay of proceedings can be ordered on some irregularities, how can the court investigate the fact? . . . Is the court going to concern itself with executive decisions not directly relevant to the court case but historic, long before court proceedings start?' asked Mr Thomas.
He argued the publication of an abridged report at the end of the company inquiry in 1993 did not prevent the pair from having a fair trial.