Elliott Questions Bank Of East Asia’s Nearly $1 Billion Share Sale

Paul Singer’s Elliott Management Corporation has launched a legal action against Hong Kong’s Bank of East Asia for its nearly $1 billion share sale to Japan’s Sumitomo Mitsui Banking Corporation last year.

Bank of East Asia is one of the last remaining family-owned Hong Kong banks.

Elliott seeks BEA’s internal papers

According to court proceedings held Wednesday in Hong Kong, five funds linked to Elliott are seeking to compel Bank of East Asia’s directors to hand over internal papers covering their decision...