Lester Fung

Examples of Lester’s significant experience include*:

Disputes

• Representing a P.R.C. conglomerate in a Hong Kong International Arbitration Centre (H.K.I.A.C.) arbitration to pursue claims against a U.S.-based company for failure to proceed with a transaction, wrongful expulsion from a partnership and prejudice of member’s rights. The consideration of the underlying transaction was US$112 million.
• Representing a P.R.C. property developer in defending a H.K.I.A.C. arbitration concerning an alleged failure to exercise a put option in relation to a property development in Dalian, P.R.C.
• Representing an investment firm in Hong Kong court proceedings to pursue claims over HK$1.4 billion against a high-net-worth businessman in the P.R.C. arising from a failure of two investment funds to repay capital and fixed return.
• Representing a securities firm before the Hong Kong High Court to defend claims for breach of duties and knowing assistance in connection with a transfer and disposal of shares under a fraudulent scheme.
• Representing a high-net-worth individual before the Hong Kong High Court to defend claims for knowing receipt and knowing assistance pursued by liquidators of a NASDAQ-listed company in connection with a fraud perpetrated by the former directors of the company.
• Representing a Hong Kong listed company in opposing a winding-up petition before the Hong Kong High Court.
• Representing a major P.R.C. financial institution on the recovery and restructuring of a HK$24 billion debt following the collapse of a listed company.
• Representing various Hong Kong high-net-worth individuals in intra-family shareholders’ disputes with court proceedings in Hong Kong, Macau, the P.R.C., Mauritius and the B.V.I.

Regulatory

• Acting for Ant SME Services (Hong Kong) Ltd. in their successful application for a virtual bank license in Hong Kong.
• Advising a major mobile payment services provider on its strategic co-operation with an electronic ride-hailing platform and monitoring compliance with ride-hailing and data privacy legislation across multiple jurisdictions.
• Assisting a major international bank on an extensive due diligence exercise for the launch of its corporate credit card and merchant acquiring services in Hong Kong.
• Representing a securities firm in investigations commenced by the Securities & Futures Commission in relation to its failure to report Large Open Positions to the Hong Kong Stock Exchange.
• Advising an alternative financial service provider on the legality and regulatory implications of its collateral-backed loans, including the use of cryptocurrencies as collateral. 

*Includes matters worked on prior to joining Sidley.

Outside work, Lester devotes his time to pro bono activities regularly. Lester received an award from the Home Affairs Bureau of the Government of the Hong Kong SAR in April 2018 in recognition of his contribution. He also currently serves as the Honourary Legal Advisor of Hans Andersen Club.