Hong Kong Court Freezes Former Gome Chairman's Assets

Netease Tech, 8/07/09

Electronics retailer Gome (0493.HK) issued a statement today responding to a Hong Kong court's order to freeze the assets of former chairman Wong Kwong Yu and his wife, saying that the company has not been contacted by any oversight agency or law enforcement body regarding the order.

The Wall Street Journal reported yesterday that after receiving a petition from the Hong Kong Securities and Futures Commission, the court ordered a freeze of the assets of Gome Electrical Appliances Holdings, Ltd. founder Wong Kwong Yu, and forbade Wong, his wife Du Juan, and the two holdings companies from processing or selling their shares in Gome, currently valued at HKD 1.66 bln.

Keywords: consumer electronics Du Juan Wong Kwong Yu hardware Hong Kong law Gome 0493.HK retail litigation home appliances

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