Court Continues Appointment of Administrators of Man Lung Hong Securities Limited

The High Court today made a final Order continuing the appointment of Mr Patrick Cowley and Mr Paul Brough, both of KPMG, as Joint and Several Administrators of Man Lung Hong Securities Limited.

The Court made an interim Order appointing the administrators on 5 September 2007 on the application of the SFC under section 213 of the Securities and Futures Ordinance. The matter came back to Court today for further hearing. The Court made an Order that the appointment of the administrators should continue until further order.

The administrators have been appointed principally to protect the interests of Man Lung Hong’s clients and the Court has granted them wide powers in order to carry out their duties. The SFC will continue to work closely with the administrators.

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