Final Word from Hong Kong’s Top Court: Tanner De Witt Secures Decisive Victory in Global Cord Blood Case

Further to our previous article on our successful defence of the appeal concerning the ownership of subsidiaries within the Global Cord Blood Corporation (“GCBC”) group, the preliminary issues have now been conclusively determined following unsuccessful applications for leave to appeal to Hong Kong’s highest court.

As previously reported, the Court of Appeal (“CA”) dismissed the substantive appeal on 21 May 2025, upholding the findings of the Court of First Instance (“CFI”) that the purported sale of GCBC’s Hong Kong subsidiaries had been backdated and was ineffective.

CA Refuses Leave to Appeal

Following that judgment, two of the three appellants applied to the CA for leave to appeal to the CFA. That application was dismissed on 3 September 2025.

In refusing leave, the CA made clear that none of the proposed questions for determination by the CFA met the requisite threshold: they either did not arise from the CA’s judgment in May 2024, raised no issues of great general or public importance, or were simply not reasonably arguable so as to justify a further appeal.

CFA Dismisses Final Application

The same two defendants made a final attempt to pursue an appeal to the CFA. The application was heard by the Appeal Committee (The Honourable Mr. Justice Ribeiro, The Honourable Mr. Justice Fok and The Honourable Mr. Justice Lam) of the CFA on 28 January 2026 and was unequivocally dismissed at the conclusion of the hearing.

In its Reasons for Determination handed down on 12 February 2026, the CFA held that the CFI’s finding that the purported sale of GCBC’s Hong Kong subsidiaries was backdated was “unimpeachable”. The CFA further endorsed the CA’s reasons for refusing leave and confirmed that none of the defendants’ points are reasonably arguable.

Conclusion

The preliminary issues saga has now reached a final and decisive end. The outcome underscores the Hong Kong courts’ robust approach against backdated or sham transactions and the exceptionally high threshold for disturbing findings of fact at the highest appellate level.

d the Telegram chat group in his personal capacity and carried out regulated activities outside the scope of his license.

In the circumstances, the SFC further considered that Mr Wong was not a fit and proper person to carry on regulated activities due to his criminal conviction, leading to the suspension.

Ian De Witt, Sunny Hathiramani, Samantha Chan and Vanessa Leung

For more information on employment matters, please contact:

Ian De Witt
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Sunny Hathiramani
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