Sunday 7th December 2014

Dear Reader,

NEW ARTICLES
Moving on from Occupy to the Central Issue
The protesters have overstayed their welcome in Admiralty. They should withdraw and set a new deadline for C Y Leung to do the right thing: send a new report to the NPCSC, recommending restoring the nomination threshold to 12.5% from 50%. That would achieve free and fair elections without civic nomination. After all, only 305 members of the 1200-member committee nominated him in 2012. A New Year's Day march should celebrate or protest his choice. Sign the petition! (7-Dec-2014)

The right to remember: keeping public data public
The slides from a speech by Webb-site founder David Webb to the AGM of the Hong Kong Library Assocation tonight. (5-Dec-2014)

NEWS ROUNDUP
HKICPA bans Simon Chan Po Kau from practising for 1 year and fines him HK$20k
HKICPA, 4-Dec-2014

SFC criticises Mr Wen Yibo for breach of Takeovers Code
SFC, 4-Dec-2014

Concentration warning in Loco HK (8162). CCASS changes since listing
SFC, 27-Nov-2014

ICube (0139) lends up to HK$50m to Freeman Corp Ltd
Company announcement, 3-Dec-2014
That's on top of the HK$88m it invested in the same company in September. Both companies are in the "Chung Nam Network".

HKSAR v Mable Woo Mei Bo
HK Court of Appeal, 3-Dec-2014
“when a person only has less than $4,000 in his/her bank account on a certain date, he/she must know that a bank statement which purportedly states that he/she had a balance of US$200 million in that account on that date is false”. Bail pending appeal is denied.

Company director gets 30 months for bribery over US$4m bank loan
ICAC, 2-Dec-2014
There once was a man named Zhong,
He definitely did something wrong.
He offered a bribe to a banker,
And now he's in jail, So let's thank her.

Angela Ho & Associates v Phyllis Kwong Ka Yin
HK Court of First Instance, 2-Dec-2014
Paragraph 42 and 48: "Since there is evidence before the court to show that Ms Kwong's firm has made contingency fee agreements with the ultimate clients, I consider it my duty to report the matter to the Law Society..."

Kwoon Chung Bus (0306) v Admiralty democracy protesters
HK Court of First Instance, 1-Dec-2014
Note from the maps that the injunction does not affect the main occupation strip of Connaught Road Central between Cotton Tree Drive and Tim Mei Avenue.

ICube (0139) buys 15/F China United Centre in shell from Qualipak (1332). Qualipak announcement
Company announcement, 28-Nov-2014
Both companies are in what we call the "Chung Nam Network". By transferring the BVI shell they avoid HK$7.82m of Double Stamp Duty at 8.5%.

IO chairlady faces court for allegedly disclosing identity of person under ICAC probe
ICAC, 28-Nov-2014

Police Sergeant and two others in court for alleged bribery and operating gambling den
ICAC, 28-Nov-2014

PECS Register monthly update Part 1. Part 2
HK Government, 28-Nov-2014

Re: Francis Ho Kai Wa
HK Court of First Instance, 28-Nov-2014
The ex-solicitor is declared bankrupt for the second time - he was there from 2002-2006.

Concentration warning in Loco HK (8162). CCASS changes since listing
SFC, 27-Nov-2014

HKICPA bans Chau Li Shan, former Moulin accounting manager for 2 years
HKICPA, 27-Nov-2014
Ms Chau testified under immunity at the criminal trial of directors. This case serves as a warning to qualified accountants working at listed companies - you cannot turn a blind eye to fraud and claim that you were just acting under orders, and you have a positive obligation to blow the whistle, first to management or non-executive directors, and if they don't act, then to authorities directly, such as the SFC or police.

And much more besides...
Remember that, apart from our occasional artisan articles, you can follow Webb-site Reports via RSS, Twitter, or Facebook.

Pass it on!
This free newsletter goes to over 21,000 subscribers. If you enjoy the site, then please invite a friend to find out what they are missing and subscribe!