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Bank of Asia's Founder Carson Wen Appealed to Privy Council in UK on Employment Dispute with Chad Holm

2021-01-12 15:01 1290

TORTOLA, British Virgin Islands, Jan. 12, 2021 /PRNewswire/ -- Mr. Carson Wen, Founder and Chairman of Bank of Asia ("the Bank"), has filed the Notice of Appeal with the Privy Council in UK on the ongoing employment dispute with Chad C. Holm, a former employee of Financial Holdings (BVI) Limited ("FHL"). Mr. Wen expresses that he would continue to pursue all legal options to set the record straight. He also stresses that Bank of Asia is not a party to the proceedings and is not in any way affected by the court action.

Mr. Wen obtained Final Leave from the Eastern Caribbean Court of Appeal on 16 September 2020 to appeal to the Judicial Committee of the Privy Council (often referred to as the Privy Council) in the United Kingdom on the dispute with Chad C. Holm regarding an alleged shareholding matter.

The Notice of Appeal has subsequently been filed with the Privy Council, the final court of appeal for the British Virgin Islands and other Eastern Caribbean jurisdictions on 10 November 2020.

Meanwhile, the legal proceedings filed by FHL against Chad Holm and two co-Defendants for breach of contract, breach of trust and breach of fiduciary duties in the Hong Kong High Court in October 2016 are continuing. Mr. Wen was the CEO of Financial Holdings (BVI) Limited, which employed Chad Holm as Deputy CEO in October 2015.

Previous Statement from Mr. Wen on above dispute can be found at: Update from Carson Wen Ka-Shuen on Employment Dispute with Chad C. Holm.

About Bank of Asia

Bank of Asia provides banking and asset management services to companies, high net worth individuals, family offices and trusts across the globe, especially those with interests in offshore jurisdictions, through its digital platform.

The Bank's vision is to change the way people bank through delivering cost effective, efficient and user-friendly FinTech solutions, underpinned by innovative technologies and robust quantitative analytics in the Know Your Customer and Anti Money Laundering process.

In addition to general banking services such as deposits and loans in multiple currencies, cross-border payments and remittance, it also provides investment banking, corporate advisory and structured financing, private banking, insurance, investment and asset management services through its business partners.

Bank of Asia is licensed and regulated by the Financial Services Commission of the British Virgin Islands (BVI FSC).

For more details, please visit www.bankasia.com.

About Carson Wen

Mr. Carson Wen is the Founder of Bank of Asia (BVI) Limited and BOA Financial Group Limited. He is also the Chairman of the Sancus Group of companies, which has investments in policy driven sectors such as new energy, logistics, finance and technology. He has practiced law for over 30 years at his own Hong Kong partnership and subsequently at leading global law firms. Mr. Wen has been named as a leading adviser on Chinese law, mergers & acquisitions and capital markets work in Who's Who of the Law, Asia Pacific Legal 500, AsiaLaw Leading Lawyers, Chambers Asia and China's Top 200. He is also named in the International Who's Who and Who's Who of the World.

Mr. Wen is a Justice of the Peace of Hong Kong and held various public service appointments in Mainland China and Hong Kong.

Mr. Wen is a member of the Executive Committee of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) Sustainable Business Network (ESBN) and former Chairman of its Task Force on Green Business. He is also a Director of the Pacific Basin Economic Council. He is also, inter alia, a Founding Director of the China M&A Association.

Mr. Wen was awarded the Bronze Bauhinia Star (BBS) by the Hong Kong Special Administrative Region Government for his contribution to economic ties between Hong Kong, Mainland China and the rest of the world.

Mr. Wen obtained his B.A. from Columbia University, where he majored in economics, and B.A. and M.A. from Balliol College, Oxford University, where he studied law and was Younger Prizeman in Law for 1976.

Source: Bank of Asia (BVI) Limited
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