H.K. OFFICIAL DEFENDS NON-PROSECUTION OF BOND
Hong Kong's Attorney General Michael
Thomas said he decided not to prosecute Alan Bond, chairman of
<Bond Corp International Ltd> (BCIL), for giving misleading
information about the firm because the case was weak.
    He told the Legislative Council there had been widespread
misunderstanding, speculation and unfair distortion of the
reasons for the decision.
    "Even if there is evidence that tends to prove the necessary
ingredients of an offence, a bare prima facie case is,
generally speaking, not enough to warrant a prosecution," added
Thomas.
    The Attorney General's office said last month it will not
prosecute Bond for his statements that the net asset value per
share of properties owned by BCIL should be 2.60 H.K. Dlrs
instead of 1.10 dlrs stated in the firm's prospectus.
    The decision followed a public apology by Bond that his
remarks were misleading about BCIL, owned 66.2 pct by the
Australia based Bond Corp (Holdings) Ltd <BONA.S>.
    Thomas dismissed a suggestion that he had compromised not
to prosecute Bond if an apology was published but added: "its
publication ultimately was a factor I took into account when
subsequently I decided not to prosecute."
 Reuter
