The Hong Kong Securities and Futures Commission has obtained a Court of First Instance extension of worldwide freezing orders against Lo Kai Bong and Major Success Group Limited in connection with suspected corporate misconduct. The orders restrict dealings in assets worth up to HKD 146,859,320 and will remain in force until the final determination of the regulator’s proceedings under section 214 of the Securities and Futures Ordinance or a further court order. The court found a real risk of asset dissipation after considering a February 2026 restructuring directed by Lo. The restructuring transferred assets of LET Group Holdings Limited and Summit Ascent Holdings Limited, including interests in Japanese land parcels, to Major Success for Lo’s personal benefit and placed them beyond the reach of potential relief. The underlying proceedings seek protections for independent shareholders, including a share repurchase order and the possible appointment of a receiver or manager over certain assets. The trial is scheduled to begin on Sept. 20, 2027.
2026-09-18Hong Kong Securities & Futures Commission
Hong Kong Securities and Futures Commission secures extension of worldwide asset freezes covering HKD 146.9 million
The Hong Kong Securities and Futures Commission has secured an extension of worldwide freezing orders covering up to HKD 146,859,320 in assets held by Lo Kai Bong and Major Success Group Limited. The court found a real risk of asset dissipation linked to a February 2026 restructuring, and the freezes will remain pending final determination of the regulator’s proceedings or a further court order.