Troubles for Hong Kong brokerage firm Covoy continue to escalate with the latest investor dispute resulting in a violent altercation with allegedly paid thugs.
18 intruders attempted to force their way into a shareholder meeting held by Convoy Global Holdings and assaulted its employees, according to the firm.
Following the altercation, eight men were arrested according to a «Bloomberg» report citing local police.
According to legal filings by Convoy against ex-directors and related parties, a former management team was involved in one of these networks linked to the shareholder meeting disruption.
Violent History
This is not the first time the local brokerage firm has been featured in headlines involving violence.
In 2019, the wife of a former director was reportedly injured by a knife attack in Hong Kong after her car was rammed.
Stock Delisting
Convoy continues to face amid an attempt by the Department of Justice to appeal a court decision to acquit several ex-directors of the conspiracy to defraud after the largest investigation launched by the Securities and Futures Commission resulted in no convictions.
Trading of its shares has been suspended since December 2017 and will be delisted tomorrow, according to Hong Kong’s stock exchange, over failure to fulfil obligations required to resume trading.
«We believe the [delisting] decision is unfortunate and unjustified as this has effectively allowed wrongdoers to cause further griefs to the shareholders, particularly minority shareholders,» said Convoy chairman Lee Jin-yi in an exchange filing.
