Craft Bamboo sues former CEO & Director Richard Coleman

Statement by Craft Bamboo Holdings Limited

Craft Bamboo sues former CEO & Director Richard Coleman
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For Immediate Release

Craft Bamboo Holdings Limited (“CBH”) has issued legal proceedings in the High Court of the Hong Kong Special Administrative Region (Case No.: HCA 2665/2017) against former CEO and Director Richard Coleman as the 1st Defendant for breach of contractual and fiduciary duties owed to CBH.  CBH is seeking substantial sums of money on the grounds of breach of fiduciary and/or contractual duty against Richard Coleman.

In the same action, CBH has also named Mayfield Sports Management Limited (“Mayfield”) as the 2ndDefendant seeking to hold Mayfield liable for sums on the grounds of dishonest assistance, knowing receipt and/or breach of contract.

Richard Coleman is no longer the CEO and Director of CBH, nor the team principal of Craft-Bamboo Racing.  Following a CBH Internal investigation, he was removed from these positions in November 2017 by the board of directors of CBH and the above mentioned proceedings were commenced.

To be clear, Richard Coleman no longer has any affiliation with the management of CBH nor does he have any authority to represent CBH whatsoever.

As civil proceedings have commenced, CBH is unable to disclose any further information at this time.  Updates will be provided as and when it becomes appropriate.

For reference purposes:  (Case No.: HCA 2665/2017)


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