plaintiff:
- HKSAR
defendant:
- MAK KWONG YIU (麥光耀)
- CHAN LAI YEE (陳麗兒)
- WONG SHUK ON (黃淑安)
- LEE YICK MING (李易明)
jurisdiction_code: HKCFA
jurisdiction_name: Court of Final Appeal of the Hong Kong Special Administrative Region
case_location:
- 香港特別行政區
- Hong Kong Special Administrative Region
case_reason: >-
  HKSAR appeals against D1-D4's convictions for conspiracy to conceal CISL's role as placing agent and
  avoid conflict scrutiny
case_object:
- concealment of connected transaction
- avoidance of conflict of interest scrutiny
judgment_result:
- charge: Conspiracy to conceal CISL's role as placing agent (liability issue)
  result: Upheld. Appeal allowed, convictions restored. Court found concealment of CISL's agency constituted
    unlawful connected transaction under Listing Rules, and directors' conflict of interest was central
    to conspiracy charges.
  reasons:
  - CISL's connection to CFHL was established as connected person
  - Concealment of CISL's role was unlawful regardless of Gransing's status
  - Directors' conflict of interest and avoidance of scrutiny by independent directors were key elements
    of conspiracy
judgment_summary: >-
  HKSAR appealed D1-D4's convictions for conspiring to conceal CISL's role as placing agent to avoid conflict
  scrutiny. Court upheld convictions, finding concealment of CISL's agency constituted unlawful connected
  transactions under Listing Rules. Rejected narrow 'sham' definition from Snook, citing Adams v The Queen
  and Mo Yuk Ping, emphasizing dishonesty and directors' duty breaches. Appeal allowed, convictions restored.
involved_entities:
- entity_name: Mr Justice Ribeiro PJ
  reason: Presiding judge in this case, responsible for fact-finding and adjudication.
- entity_name: Mr Justice Fok PJ
  reason: Presiding judge in this case, responsible for fact-finding and adjudication.
- entity_name: Mr Justice Lam PJ
  reason: Presiding judge in this case, responsible for fact-finding and adjudication.
- entity_name: Mr Justice Stock NPJ
  reason: Presiding judge in this case, responsible for fact-finding and adjudication.
- entity_name: Sir William Young NPJ
  reason: Presiding judge in this case, responsible for fact-finding and adjudication.
- entity_name: Diplock LJ
  reason: Served as judge in Snook v London and West Riding Investments Ltd, articulated test for determining
    sham transactions.
- entity_name: Hong Kong Stock Exchange
  reason: Institution involved in regulatory framework for connected transactions.
