The board of online gaming firm CY Foundation Group said it will oppose an application by its substantial shareholder, Poh Po Lian, for the appointment of receivers to the company by the court. The hearing of the summons for the appointment of receivers will be on April 6 and 7 next year. There is also a case management hearing on December 8. The Independent Commission Against Corruption is investigating CY chairman Theodore Cheng Chee-tock and his wife, Leonora Yung Chi-fung. ICAC officers raided CY's headquarters in Wan Chai in August and later arrested five people.