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Hong Kong court rejects short seller's appeal bid in Evergrande case
January 13, 2017 / 6:41 AM / a year ago

Hong Kong court rejects short seller's appeal bid in Evergrande case

HONG KONG, Jan 13 (Reuters) - Hong Kong’s Court of Appeal on Friday rejected activist short seller Andrew Left’s bid to appeal a tribunal ruling that found him culpable of market misconduct over a research report involving China Evergrande Group, his lawyer said.

On Nov. 16, Left filed an appeal to reverse findings of law, and a separate application to appeal findings of fact made by the Market Misconduct Tribunal.

On Friday, the court refused Left leave to appeal findings of fact, said Timothy Loh, managing partner at Timothy Loh LLP law firm in Hong Kong.

“Mr. Left is currently considering the possibility of appealing this decision to refuse leave to the Court of Final Appeal. Mr. Left believes that the decision of the Market Misconduct Tribunal is patently wrong and, unless it is overturned on appeal, will deter the investing public in Hong Kong from engaging in the robust discussion necessary to police listed company disclosures.”

In August, the tribunal found the U.S.-based short seller culpable of market misconduct with the publication of a research report in June 2012 alleging Chinese property developer China Evergrande was insolvent. (Michelle Price +85298121634)

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