We acted for one of our major clients in the disposal of MassMutual Tower by way of sale and purchase of the shares and loans in the holding company. The agreement was entered into on 12 November 2015 and completion is due within 6 months of the agreement. The total transaction price was HK$12,500,000,000 and it has been reported in the press to be a record sale.
The transaction was handled by our partners Joseph Wong and Peter Sit and assisted by associate Vivian Ng, trainee solicitors Sunny Chan and Veronica Wong.
We are pleased to announce that our trainee solicitor Ms. Daisy Chong was admitted on 10 October 2015 by the High Court as Solicitor. Our partner, Mr. Tommy Tam, is the principal of Daisy and our senior associate, Ms. Angela Wong, moved Daisy for her admission.
Ms. Daisy Chong will stay with our firm as Associate whose focus will be on Corporate and Commercial work.
We sold the House situated at 22 Barker Road by way of a sale of the shares and loans in the company holding the property on behalf of a trust. In this complex transaction, our corporate team collaborated with our property team to deal with various aspects of the transaction from end April 2015 to early August 2015 when completion took place.
There was unconfirmed news that Mr Jack Ma, chairman of the Alibaba Group Holding Ltd, owned the purchaser and he paid about HK$151,653 per square foot for the 9,900 sq ft, three-storeyed mansion at the Peak. It has been further reported that the property was the second most expensive mansion in the world per square foot.
Our senior associate Olson Lai and our senior partner Peter Sit handled the corporate commercial aspects and our partner Margaret Choi, associate Maggie Lee and trainee solicitor Jason Ho handled the property aspects of the sale.
On 4 July 2015, our associate, Ms. Caddy Mo, attended an in-house seminar organized by Hong Kong United Foundation Limited (which operates a website called “Speak Out Hong Kong”) and gave a presentation on current media law. A wide array of topics were discussed, including defamation, contempt of court, privacy, restrictions on news gathering activities and copyright. Interesting questions focusing on defamation and possible defences as well as copyright issues in the cyber world were raised and warmly discussed among the twenty-odd attendees of the seminar. Our senior partner, Mr. Peter Sit, had also attended and shared his experience and observations on some of the reported cases. Our summer intern Daphne So had attended and joined in the discussions.
Our senior partner Peter Sit accepted the Government’s invitation to serve as a member of The Hong Kong Polytechnic University Council for a three-year term from 1 April 2015 to 31 March 2018.
On 6 and 7 March 2015, our partner, Mr Alex Chan attended a 2-day ILN Asia Pacific Regional Conference in Shanghai, organized by the International Lawyers Network. There were 19 delegates from 13 different countries and cities (Hong Kong & Shanghai (PRC), Tokyo (Japan), Singapore, Sydney (Australia), Auckland (New Zealand), Kuala Lumpur (Malaysia), Manila (Philippines), Moscow (Russia), Milan (Italy), Berlin(Germany) and New York & Miami (USA)) attending the conference. The Delegates discussed and exchanged their views on legal issues and developments on Trade and Free Trade Agreements within Asia Pacific, Cross-border Investment & Mergers and Acquisitions and Chinese Outbound Investment.
Since 2001, we have used a customized sophisticated computer software system to assist the management and monitoring of SFKS’s many thousands of intellectual property (including patents and trademarks) cases. Our firm has been continuously upgrading both the software as well as training of our professional staff on the use of such system. Two intensive professional training sessions were conducted on the 24th and 26th January 2015 in the Board Room of our office with 16 of our IP staff attending the training.
The purpose of the training course is to reinforce the fundamental skill of our newly admitted staff and to further upgrade the skill of our experienced staff in the use of this sophisticated software programme. The maintenance and enhancement of our IP management system will ensure that all our clients’ cases are properly monitored and attended to in a timely manner which are of vital importance in the safeguarding of our clients’ intellectual property rights worldwide.
We act for Target Insurance (Holdings) Limited (泰加保險(控股)有限公司) (the “Company”) in its successful listing on Main Board of The Stock Exchange of Hong Kong Limited (stock code: 6161) on 15 January 2015. The team is led by our partner Mr. Simon Siu and assisted by members of our corporate and commercial department including our senior associate Ms. Angela Wong and our trainee solicitors Ms. Jennie Chow and Ms. Daisy Chong. The Company, together with its wholly-owned subsidiary Target Insurance Company Limited, are an insurance group offering motor insurance in Hong Kong with leading market position on insurance for taxi and public light bus. In 2010, Target has reached the first ranking in terms of motor insurance gross premium income in Hong Kong, and maintains in the top three ranking in recent years. The Group is the first local Hong Kong general insurance company whose shares are listed on Main Board of The Stock Exchange of Hong Kong Limited.
We are acting for Sun Hung Kai Properties in the sale of residential units in “Century Link (東環) of Phase 1 of Century Link Development (東環發展項目)”. The project is led by our partner Ms. Margaret Choi and assisted by Ms. Angela Wong (senior associate), Mr. William Chan (associate), Mr. Leung Wing Fai (head of conveyancing department) and a team of experienced conveyancing clerks. This has been another large scale residential project handled by our firm since the commencement of Residential Properties (First-Hand Sales) Ordinance (Cap.621). “Century Link (東環) of Phase 1 of Century Link Development (東環發展項目)” provides a total of 1407 units and our firm is responsible for handling around 351 of them.
On 24 December 2014, Joseph Wong, Partner (20 years), Judy Lee, Head of Intellectual Properties Department (30 years), Annie Cheung, Legal Executive (25 years), Stanley Lui, Conveyancing Clerk (30 years), Cathine Leung, Senior Secretary (30 years) and Maggie Leung, Secretary (20 years), received their long service certificates and awards from the senior partners of the firm in our annual Christmas Party.
Our litigation team, led by our Senior Partner, Peter Sit and Partner, Alex Chan, and comprising Rocky Wong, Alan Wong, Josephine Tang, Regina Ng and Christina Tsang, is pleased to report that after a four nights five days’ deliberation, the jurors in HCCC98/2013 have returned acquittal verdicts on all four counts (conspiracy to commit misconduct in public office, furnishing false information and conspiracy to offer an advantage to public servant) laid by the prosecution against our client Mr Raymond Kwok. The trial lasted 131 days, beginning on 8 May 2014 and the verdicts for the 19 counts against all five defendants were announced on 19 December 2014. The other four defendants in the case were convicted for one count to five counts of similar offences respectively. Mr Kwok has fully vindicated his innocence in respect of all the allegations leveled against him in the case, reported as the biggest corruption prosecution in the history of Hong Kong. A former chief secretary of the Hong Kong government was one of the defendants. Mr. John Kelsey-Fry, a top UK Queen’s Counsel specialized on criminal jury trials was instructed to represent Mr Kwok; he was assisted by Mr Steven Kwan, a local junior counsel, throughout the case.
Our associate Norman Y. Tao has passed the National Judicial Examination of the PRC recently and will obtain the Certificate of the Legal Profession Qualifications of the PRC next year, which is the qualification required for practicing as a lawyer, being a notary or being appointed as judge or public procurator in the PRC.
