David C. Chu heads up our Asia litigation practice. He focuses his practice on securities-related litigation, regulatory compliance, and commercial dispute resolution. Mr. Chu is qualified both in New York and in Hong Kong and has extensive experience handling Hong Kong High Court litigation involving U.S. multinationals, and litigation in U.S. District Courts involving major Hong Kong and PRC-based companies, either doing business or listed in the U.S.
Mr. Chu has handled numerous internal and government investigations involving regulators both in Hong Kong and in the U.S. under various legislation in both jurisdictions, including the Hong Kong Securities and Futures Ordinance, Import and Export Ordinance, U.S. Foreign Corrupt Practices Act, U.S. Patriot Act, and others. He has acted on a number of leading cases in Hong Kong regarding director misfeasance and shareholders' disputes. Mr. Chu has also worked on a broad range of disputes arising from failed securities transactions. Auditors from the leading global accounting firms and Asia-based U.S. issuers have consulted Mr. Chu on compliance issues that concurrently engage both U.S. and Hong Kong legislation.
Mr. Chu has been again recognized by Chambers Asia 2013 as a leading lawyer in the areas of dispute resolution and contentious regulatory work (financial services) in China. Clients have praised him as “unequalled when it comes to representing PRC companies in Hong Kong,” “a skilled litigation tactician with a keen attention to detail,” a “proactive and hard-working lawyer who offers practical solutions” and someone who “knows what he is doing; he makes sure nothing untoward happens.” Chambers Asia also notes Mr. Chu is “a rare talent whom clients indicated they would definitely go back to.” He also has been recognized by Asialaw Leading Lawyers 2012 as a leading lawyer in Regulatory & Government and The Leading Lawyer 100 - Asia Pacific 2011 as a leading lawyer in the area of commercial litigation in Hong Kong.
Recent matters in which Mr. Chu has been involved include:
Regulatory Compliance and Internal Investigations
- Conducted internal investigation in Taiwan for a Nasdaq listed technology company in connection with the largest insider trading case involving a hedge fund in US history.
- Advised an independent director of a New York Stock Exchange listed PRC company (via reverse merger) in connection with allegations of false accounting, US class actions and ICC arbitration.
- Conducted an internal investigation on behalf of Fortune 50 US multinational in respect of its sales practices and operations in Taiwan.
- Advised a leading Dutch bank in an investigation by the Hong Kong Securities and Futures Commission on the bank's obligations as the administrator and custodian of a mutual fund under an injunction obtained by the Commission
- Advised a Hong Kong-listed media and sports entertainment company on an investigation by the Hong Kong Securities and Futures Commission into the accounting treatment of various accounts receivables
- Advised auditors at "Big Four" accounting firms in relation to internal investigations involving their audit clients headquartered in the PRC, but registered with the SEC, in particular as regards their reporting obligations under Section 10A of the 1934 Securities Act
- Advised a U.S. multinational with a manufacturing subsidiary in Huizhou, China on its exposure to criminal liability under Hong Kong's Prevention of Bribery Ordinance, as well as its obligations under PRC's criminal law and the United States Foreign Corrupt Practices Act with respect to preventing corruption, arising in connection with the subsidiary's alleged improper dealings with the its suppliers
- Advised Banco Delta Asia under the administration of the Macau Government in connection with opposing a U.S. Treasury rule issued under Section 311 of the USA Patriot Act which froze US$25 million held by North Korean entities at the Bank
- Advised auditors of a "Big Four" accountancy firm on the scope of their obligations under the Hong Kong Companies Ordinance to disclose copies of their working papers and other documents to court appointed liquidators
- Advised the minority shareholder of a company listed on the Bursa Malaysia Main Board in its derivative action in Hong Kong for damages of HK$600 million against two directors of its Hong Kong subsidiary in connection with non arms-length dealings by the directors
- Advised a Hong Kong telecommunications company on a dispute with a Taiwanese company over an investment agreement under which the two companies agreed to develop an internet portal site in Hong Kong
- Advising a French investment fund on its rights under a subscription agreement with the BVI parent of a PRC company, relating in particular to convertible notes issued by the BVI entity
- Advised gaming operators in Macau to whom the Macau Government had granted a gambling concession on the scope of share transfer restrictions in their agreement with the government
- Advised a Thai-based global brewery in its dispute over its joint venture with a leading global beer company based in Denmark
- Advised a major U.S. film studio on an arbitration arising from its termination of a joint venture with a PRC operator and cinemas
- Advised a leading Hong Kong-based Asian actor and entertainer in a highly publicized shareholder dispute with a Hong Kong listed company over the parties' obligations under a shareholders' agreement
- Advised court-appointed provisional liquidators on a restructuring of the debtor company under Section 166 of the Hong Kong Companies Ordinance
- Advised majority shareholders of an Asian vendor of oil rig equipment to Russian companies on their exposure to a statutory minority oppression action under Hong Kong company law
- Acted for the former directors of a Hong Kong company in the leading fraud case in Hong Kong in relation to the claims of misfeasance, fraudulent trading, and fraudulent preference brought against them under the Hong Kong Companies Ordinance
- Acted for court-appointed provisional liquidators of a BVI company in a HK$300 million claim against the company's Singaporean and Indonesian directors for director misfeasance, fraud, and breach of fiduciary duty in connection with their purchase and subsequent charging of shares in a Hong Kong public company
- Acted for a Korean-listed company in an application for Norwich Pharmacal disclosure orders against a leading Hong Kong bank, in support of intended proceedings against the Korean company's former Chairman for fraud and embezzlement of company funds
- Acted for the plaintiff in California District Court proceedings who successfully obtained from a Hong Kong Court an order for the deposition of a Hong Kong resident who was not a party to the California proceedings
- Advised a major Japanese trading house on its rights under charges and guarantees under which it took security from a PRC manufacturer of mobile handsets in respect of loans exceeding ¥1 billion
- Acted for a Hong Kong project development company in its dispute with a Hong Kong-listed property developer with diversified interests in South East Asia over a tollway project in the Philippines and a hotel in Malta
- Acted for an Asian billionaire property developer in widely publicized contentious probate proceedings commenced by her family members in relation to a dispute over their son's estate
- Acted for an Asia-based cable company in libel proceedings commenced by a major telecommunication company in relation to notices published in the English and Chinese newspapers in Hong Kong, concerning the cause of a transmission
- Acted for a leading Japanese manufacturer of copiers and office equipment on its dispute with a software vendor over an agreement to supply and install software used to support the manufacturer's inventory management system
- Advised and acted for creditors in compulsory winding-up proceedings, creditors' voluntary liquidation, and members' voluntary liquidation
University of Alberta, B. Commerce, 1991
Dalhousie Law School, LL.B., 1995