Why are Vision and Penjing in legal battle?
Fund of fund managers, Vision Investment Management alleges conflicts of interest by its former employees Wu and Cruz.
Legal proceedings continue against Ronnie Wu, Natalie Cruz and their new fund-of- fund operation Penjing Asset Management following the original writ served in May 2005. The plaintiff in Hong KongÆs High Court is their former employer, Hong Kong-based, Vision Investment Management. The case considers whether VisionÆs former staff had a conflict of interests by pursuing their own private interests at the same time as being salaried employees, whether they upheld fiduciary duties wheth…
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