- Parties: The applicants were Shenglin Xian, Mao Hua Chen (a.k.a. Morris Chen), He Yuan Investment Ltd., Mingyan Liu, Ou Yang Financial Investment Corp., Yuansheng Ou Yang, Wealth One Canada Inc., and Xin Yuan Hui Holdings Ltd. The respondent was the Minister of Finance. 

- Subject Matter: This judicial review application sought to set aside the Minister of Finance's decisions. The decisions revoked certain approvals for the acquisition of common shares of Wealth One Bank of Canada under s. 973.03(1) of the Bank Act, 1991 and directed the applicants to dispose of these shares under s. 402(1) of the Bank Act. The applicants alleged that the Minister failed to observe a principle of natural justice, procedural fairness, or other legally required procedure; based the decisions on erroneous factual findings made in a perverse or capricious manner or without regard to the material; and made ultra vires and unreasonable decisions. This case is ongoing. 

- Date: The hearing was set on Apr. 12, 2024. 

- Venue: This was a federal case before the Federal Court. 

- Amount: No financial award was specified.