SFC obtains disqualification order against former executive director of Life Healthcare Group Limited

18 Sep 2019



The Securities and Futures Commission (SFC) has obtained a disqualification order in the High Court against Ms Michelle Kwok Choi Ha, a former executive director of Tack Fat Group International Limited (Tack Fat), now known as Life Healthcare Group Limited (Note 1).

Kwok was disqualified from being a director or being involved in the management of any listed or unlisted corporation, without leave of the court, for a period of six years effective from 17 September 2019.

The order was made after Kwok admitted her involvement in the following misconduct at the material time:

Kwok also accepted that:

In granting the order, The Honourable Madam Justice Au-Yeung found that whilst Kwok did not personally benefit from the misfeasance or misconduct, her conduct reflected a high degree of incompetence and an irresponsible attitude.

The SFC has previously obtained similar orders against two other former executive directors of Tack Fat (Notes 4 & 5).

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Notes:

  1. Tack Fat was listed on the Main Board of the Stock Exchange of Hong Kong Limited on 29 April 2002.  Tack Fat changed its name to Tack Fiori International Group Limited on 23 November 2011 and to Life Healthcare Group Limited on 2 May 2017.
  2. Under rule 13.09 of the Listing Rules in force at the material time, an issuer is required to disclose price-sensitive information as soon as reasonably practicable.
  3. Kwok was an executive director of Tack Fat from 1 September 2007 until her resignation on 20 March 2009.  
  4. Please see the SFC’s press releases dated 9 October 2014 and 30 March 2015.
  5. Under section 214 of the Securities and Futures Ordinance, the court may, inter alia, make orders to disqualify a person from being a director or being involved, directly or indirectly, in the management of any corporation for a period up to 15 years, if the person is found to be wholly or partly responsible for the company’s affairs having been conducted in a manner, amongst other, involving defalcation, fraud, misfeasance or other misconduct towards it or its members.

 



Page last updated : 18 Sep 2019