Often Partisan

More on (ex)Mrs Carson Yeung – Li Wing Sze

Last Monday I posted a snippet of news concerning the former Mrs Carson Yeung, Li Wing Sze. Although it’s tangential to Blues, a bit more has come out today and I thought it was worth making a note of on here.

I received this article from the Economic Times in Hong Kong, which makes note of an EGM held by Amax Holdings, a company of which Ms Li is an executive director, and their share in a casino in Macau called Greek Mythology, which Carson Yeung allegedly made his money from investing in and allegedly still has a stake in.

Essentially, what the article is saying is that Amax are investigating legally if their associate, Greek Mythology, could convert a shareholder’s loan to shares and dilute Amax’s stake in the firm. What is interesting about it is Amax have disbarred the two executive directors connected with this in voting  on how they proceed with this (as they would if there is a conflict of interest), and one of the two directors disbarred from voting is Ms Li.

Futhermore, bearing in mind an application to freeze Ms Li’s assets was made alongside the application to freeze Carson Yeung’s assets in the HK courts, the shares in Amax have now been un-suspended (and have sustained a heavy fall too, falling 23% today) which has interesting implications for BIH. I don’t know if Ms Li has any shares in Amax despite being an executive director, but this move from Amax reinforces my scepticism that the application to freeze the assets of Ms Li and Mr Yeung has been successful – there is still no judgement showing on the legal reference system here.

As I said previously, this is tangential to BIH and BCFC, but I do believe it’s a situation worth keeping an eye on as I believe that there are implications involving Carson and also his court case. As ever, as more comes in I’ll attempt to keep people updated.

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