Retrial of insider dealing case after Court of Final Appeal dismisses leave application to appeal

26 Apr 2019



The Court of Final Appeal has dismissed the application of Mr Cheng Chak Ngok, former executive director, chief financial officer and company secretary of ENN Energy Holdings Limited (ENN Energy), for leave to appeal against the judgment of the Court of Appeal on the retrial of alleged insider dealing in the shares of China Gas Holdings Limited (China Gas) by Cheng (Note 1).

In March 2017, the Market Misconduct Tribunal (MMT) found that Cheng had not engaged in insider dealing in the shares of China Gas.  The SFC appealed against the MMT’s decision.  

In September 2018, the Court of Appeal allowed the SFC’s appeal and ordered the matter to be remitted to a differently constituted tribunal to determine whether Cheng had dealt in the shares of China Gas. 

The Court of Appeal earlier dismissed Cheng’s application for leave to appeal to the Court of Final Appeal.  The Court of Final Appeal yesterday also dismissed Cheng’s application for leave to appeal.  The Court of Final Appeal will deliver reasons later.

The retrial will be heard in the MMT between 26 and 30 August 2019.

End 

Note:

  1. Please see the SFC’s press releases dated 25 Jul 2016, 24 Mar 2017 and 11 Sep 2018.


Page last updated : 26 Apr 2019