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Bank Of Asia Chair Ordered To Disclose Share Sales

Law360, London (June 4, 2019, 8:40 PM BST) -- A British Virgin Islands judge barred Bank of Asia’s chairman, who is entangled in a contract dispute with a former executive, from transferring profits from the sales of shares connected to the digital bank without alerting his former business partner.

The decision by BVI Commercial Court Judge Neville Adderley against Bank of Asia Chairman Carson Wen and others fell short of the freezing order sought by claimant Chad Holm. The judge said he “sought to find a middle and proportionate ground” by instead imposing a mandatory injunction that Wen and his wife must tell Holm within 48 hours of any decision...

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