December 19, 2017 / 5:02 AM / in 6 months

BRIEF-Convoy Global says it initiates legal action to recover any improperly diverted funds

* SAYS IT, TWO SUBSIDIARIES COMMENCE LEGAL PROCEEDINGS IN HIGH COURT AGAINST 28 DEFENDANTS IN RELATION TO CLAIMS FOR GROSS BREACH OF FIDUCIARY DUTY AND ILLEGITIMATE DIVERSION OF CO’S FUNDS, CAUSING SUBSTANTIAL FINANCIAL LOSS AND DAMAGE TO THE CO

* SAYS IT WILL FURTHER INVESTIGATE, ALONGSIDE OTHERS BY VARIOUS REGULATORY AND ENFORCEMENT AUTHORITIES

* SAYS IT DOES NOT RULE OUT THE POSSIBILITY TO JOIN IN ADDITIONAL DEFENDANTS AND TO FILE FURTHER CLAIMS IN FUTURE Source text in English: bit.ly/2B9xHum Further company coverage: (Reporting by Hong Kong newsroom)

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