COMPANIES Hong Kong’s High Court has ordered an interim injunction to freeze HK$1.66bn (US$214.2m) of assets held by the former chairman of Gome Electrical Appliances, who is alleged to have used company funds to repay personal debt.
The Securities and Futures Commission (SFC) alleges Huang Guangyu, the former chairman and leading shareholder of Gome, and his wife Du Juan, organised a share repurchase by Gome in early 2008 to buy shares originally held by Mr Huang.
