Le Lézard
Classified in: Business
Subject: LAW

Bank of Asia BVI Saga Escalates: Chad C. Holm Forced to Respond to False and Misleading Public Statements by Long-Time Hong Kong Politician and Lawyer Carson Wen

NEW YORK and HONG KONG, Aug. 1, 2020 /PRNewswire/ --

Key Announcements

FHI Statement

FHI on behalf of its Chairman, Mr Holm, issued the following statement today: "In a press release issued by Carson Wen on 13 July 2020, Mr Wen made astounding false and misleading assertions, attempting to downplay his liability and paint himself as both a victim and a saviour.  He is neither.  As a result, we are unfortunately required to issue a response and provide the irrefutable evidence conveniently omitted from Mr Wen's release.  The motivations behind his ill-advised statements cannot be clearer."

FHI Full Response (1 Aug 2020)

Judgments in Summary

The conclusions by the two esteemed courts are indisputable.  As the lower court found, "[q]uite frankly, I had very little difficulty in finding Mr Wen and Ms Fung liable for breach of the BVI Contract."  The Court of Appeal thereafter dismissed the appeal by Mr Wen and others, finding, "the conclusion of the learned judge that an oral contract had been made and was breached by the Appellants is unimpeachable."

JUDGMENT (LOWER COURT):  https://www.eccourts.org/chad-holm-et-al-v-sancus-financial-holdings-limited-et-al/

JUDGMENT (COURT OF APPEAL):  https://www.eccourts.org/sancus-financial-holdings-limited-et-al-v-chad-holm-et-al/

Further Public Disclosure

In the event that Mr Wen unwisely chooses to perpetuate a very public debate, FHI and Mr Holm will be left no choice but to further defend themselves.  It is FHI's and Mr Holm's hope they are not required to do that again.

Further Inquiries

Inquiries can be directed to info@fhi-bvi.com.

SOURCE FH Investment Limited

These press releases may also interest you

at 08:05
Syntellis Performance Solutions, a leading provider of enterprise performance management (EPM) software, data, and analytics solutions, announced today that its Axiom Contract Management solution has been identified as the top-ranked solution in...

at 08:05
Boston Trust Walden Company has been awarded top scores in the most recent Principles for Responsible Investment (PRI) assessment report as of year-end 2019....

at 08:05
KanTime, the fastest growing post-acute software company provider in the nation has partnered with HealthRev Partners, a leading revenue cycle management organization. This strategic partnership lends a helping hand to agencies committed to enhancing...

at 08:05
While the COVID pandemic of 2020 has forced much of the business world off-course, PRG Real Estate, a leading multifamily investment, and management company celebrates its success by recognizing the dedicated people who make the company...

at 08:03
Virtual Power Systems' (VPS) board of directors today announced that interim CEO, Dean Nelson, has been named permanent CEO, and the company has secured $12 million in funding from new and existing investors....

at 08:02
Award-winning, creative agency Digital Yalo announces a new partnership with digital product design platform company InVision. This robust union formalizes Yalo's support for InVision's new Design System Manager (DSM) solution to clients.  ...

News published on 1 august 2020 at 18:51 and distributed by: