Some former shareholders of collapsed Siu Fung Ceramics Holdings will face an insider dealing tribunal over their trading of shares in the company before a disappointing result in 1996. Financial Secretary Antony Leung Kam-chung has appointed Michael Sze Tsai-ping and James Wardell to sit on the tribunal chaired by Mr Justice Gareth Lugar-Mawson. The stock exchange delisted the ceramic-products maker last month after it was wound up by debtors in May last year. The Government yesterday did not identify the shareholders involved in the inquiry. In late 1996, the company announced a HK$252.19 million net loss for the six months to June 30. The loss was mainly due to financial problems at its German subsidiary, which later went into liquidation. The company's share price dropped to 74 HK cents after the results announcement. It had dived to 3.5 HK cents when it was last traded on May 10, 2000. The insolvent company later disclosed it owed HK$2.4 billion to 19 banks, mainly to HSBC and Hang Seng Bank. Siu Fung Ceramics went into liquidation after HSBC filed a wind-up petition against the company and three of its subsidiaries. The tribunal will hold a preliminary hearing on January 30. The two tribunal members were appointed because of their familiarity with the local market. Mr Sze is a director of KGI Asia, while Mr Wardell is managing director of CCIF Corporate Advisory Services. The maximum penalty for insider dealing is a fine equal to three times the amount of profit taken or losses avoided as a result of insider information.