The Securities and Futures Commission (SFC) today announced that the administrator has successfully distributed over $189 million – more than 98% of the $192 million court-approved compensation money – to around 600 independent public shareholders of Combest Holdings Limited (Combest) (Notes 1 to 4).
The direct distribution of compensation in the form of a special dividend to eligible shareholders of Combest was administered by Bruno Arboit of Kroll (HK) Limited (Administrator), jointly appointed by the SFC and Combest pursuant to the landmark court order obtained earlier by the SFC.
The SFC reminds independent public shareholders who are entitled to receive the special dividend and have not received their entitled special dividend to contact the Administrator at DL.combestholdingslimited@kroll.com or via the hotline at (852) 2281 0108 to submit their claims on or before 10 October 2025.
This is because the special dividend distribution is scheduled for completion on 23 October 2025. Thereafter, any uncollected special dividend, following the deduction of costs, expenses and disbursements, will be returned to Combest.
Notes:
- In May 2020, the SFC commenced court proceedings under sections 212 and 214 of the Securities and Futures Ordinance to seek remedies from Mr Ng Kwok Fai, Mr Liu Tin Lap and Mr Lee Man To for their wrongdoings. Please see the SFC’s press release dated 21 May 2020.
- In September 2024, the SFC and Combest, Ng, Liu and Lee reached an agreement to dispose of the court proceedings by way of the Carecraft procedure. Please see the SFC’s press release dated 16 September 2024.
- On 2 June 2025, the SFC announced a Court decision requiring Ng, Liu and Lee to pay $192 million in compensation to shareholders. Please see the SFC’s press release dated 2 June 2025.
- The judgment is available on the Judiciary’s website (Case No.: HCCW 118/2020).
