The 750k HKD ($145k AUD) mentioned looks to be the monthly trustee service fee which is 450k HKD and the monthly earnout which is circa 300k HKD. If the $145k is just one months service fee, imagine what he might want for breach of contract and conspiracy to injure. Could be millions which would be crippling. Not saying he'll win obviously but he seems pretty determined to not go without a fight.
I'm not sure why he's doing this though as he always seemed to worry so much about the average shareholder when he was CEO. How is this going to help the average shareholder? For a family that seems to already have so much, it just seems really wrong. I for one hope CI1 win and win BIG
Also, how are the other Wongs and meant to keep their jobs though all this? Obviously they can't sack them for no reason but it just seems like it could get very messy having them around.
DYOR. My opinion only. I'm not a lawyer.
Ann: Legal Action by Former Executive Chairman, page-27
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