Regulatory Alerts2026-06-17
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SFC seeks share buy-out order against former chairman of Target Insurance (Holdings) Limited
The Securities and Futures Commission has commenced legal proceedings to seek a court order requiring Mr Ng Yu, former chairman of Target Insurance (Holdings) Limited, to buy out shares held by the investing public. The Commission is also seeking disqualification orders against Ng and ten other former directors of the company. These actions arise from alleged breaches of fiduciary duties and negligence related to the loss of over US$150 million placed with Nerico Brothers Limited.
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