Who was to blame for the credit crunch? How should we
deal with it now its happened? These were the questions
dominating the minds of counsel at this years Asia Forum.
That and accountants, again. Here are the top stories from the
Legco's minibond intervention is dangerous
The decision of Hong Kong's legislative counsel to wade into
the Lehman minibond debacle is "interesting and dangerous",
according to counsel. Legco should have instead allowed the
regulators to deal with the claims.
On November 12, Legco voted in favour of government
investigation into the collapse of minibonds connected to
Lehman Brothers. When Lehman failed, these products failed with
it, leaving many retail investors out of pocket.
"Legco getting involved is a turn for the worse," said
Martin Rogers, Clifford Chance's head of dispute resolution.
"It is interesting and dangerous, particularly as giving