[Tango-L] Dance Instructor Sued for US $8 Million ...

[Nitin Kibe]

Here's the item from the FT....

NK
Wash DC

*************

OBSERVER
HSBC banker learns the cost of obsession - OBSERVER.
295 words
14 June 2006
Financial Times
USA Ed1
Page 12
English
(c) 2006 The Financial Times Limited. All rights reserved

It's no surprise that private bankers make loads of money these days. But it 
is sometimes surprising to learn how they like to spend their money. Monica 
Wong, head of HSBC's private banking in Asia, has chosen to spend a small 
fortune on Latin dancing.

As a banker who makes a living by managing wealth, Wong should probably know 
that HKDollars 120m (Dollars 15.4m) can buy a very nice private island in 
Thailand, a few luxury flats in Hong Kong or 45 of the new Rolls-Royce 
Phantoms.

But Wong clearly saw better use of the money. According to court documents 
filed in Hong Kong, Wong, who was paying HKDollars 10m for two years of 
unlimited Latin dance lessons, reached new contracts in 2004 with her 
private instructors for HKDollars 120m for a further eight-year period. The 
new lessons, however, have not been taken.

After the high-powered banker paid half of the agreed fees and just before 
the new contracts started, one of the instructors allegedly called her a 
"lazy cow" and asked her to "move your arse" while they were practising 
publicly in a restaurant.

In her statement of claim in Hong Kong Court of First Instance, Wong alleges 
that she and the instructor agreed to terminate their oral agreements 
shortly after the humiliating encounter. The instructor claims they have 
never reached that conclusion.

Wong is now suing her instructors - a 14-time world champion and her husband 
- to get back the HKDollars 62m she has already paid.

The couple is counterclaiming Pounds 4m of unpaid fees.

The sour experience has not put Wong off. She told Observer she is still 
taking Latin dance lessons - from another instructor.

*****************

From:  <info at dancescape.com>
To:  <info at dancescape.com>, <tango-l at mit.edu>
Subject:  [Tango-L] Dance Instructor Sued for US $8 Million ...
Date:  Fri, 16 Jun 2006 00:28:38 -0400
>Hi Everyone,
>Thought this might be of interest ... Yesterday, it was reported that a
>Dance Instructor was sued for $8 million dollars!
>
>According to our Hong Kong contributor, the dance instructors are students
>of Latin Dance legend, Gaynor Fairweather...
>
>------------------------------
>
>HONG KONG Dance pupil sues for $8m in fees
>
>Wed, 14 Jun 2006 -- A Hong Kong banker is suing her Latin dance teachers 
>for
>the return of 62 million dollars (eight million US) in prepaid fees after
>her instructor allegedly insulted her in a restaurant, a report said on
>Wednesday. Mimi Monica Wong, head of HSBC's private banking in Asia, told a
>court Tuesday she had agreed to pay dance instructor Mirko Saccani 120
>million dollars for eight years' of unlimited lessons and competitions, the
>South China Morning Post reported. Wong said she used to be enthusiastic
>about her dance lessons because she had been "looking for the last bit of
>glory in life"  ...
>
>Photos and details at http://dancescape.com/mydancefriends
>
>
>And who said you couldn't become a millionaire teaching dancing! LOL.
>
>
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