The Court adopted the Carecraft Procedure, a mechanism in Hong Kong that allows for the expeditious disposal of legal proceedings, particularly those involving the Securities and Futures Commission (“SFC”). It involves submitting a statement of agreed facts, allowing the court to decide on the appropriate orders without a full trial. 

 

The Carecraft Procedure has three benefits:

 

•⁠  ⁠Reduced costs: Avoiding a full trial significantly lowers legal expenses for all parties involved. 

 

•⁠  ⁠Faster resolution: The procedure enables a quicker resolution of the case compared to a lengthy trial. 

 

•⁠  ⁠Cooperation: It encourages parties to cooperate with the SFC by acknowledging their wrongdoing and agreeing to a settlement. 

 

The 5th Respondent and the SFC consensually agreed that a disqualification order of 10 years was appropriate on an agreed statement of facts. Mr Justice Harris accepted that a “disqualification period of 10 years is commensurate with the gravity of the 5th Respondent’s conduct and gives appropriate regard to the mitigating factors”.

 

Link to the Judgment: https://www.hklii.hk/en/cases/hkcfi/2025/2682

 

Link to Lavesh’s Profile: https://princeschambers.com/laveshkirpalani/