Wall Street Wonderland

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Thursday, September 07, 2006

“Dancing” Banker Wins Back millions

Even in Hong Kong, a city used to the exuberance of its wealthiest inhabitants, Mimi Monica Wong set new standards with her passion for the rumba, samba and cha-cha.

In 2004, 'looking for the last bit of glory in my life', 61-year-old Ms Wong agreed to pay $15.4m to 15-time world Latin dance champion Gaynor Fairweather, and her Italian husband Mirko Saccani, for 8 years of exclusive and unlimited dance lessons, and entry into competitions around the world.

HSBC private banker Mimi Monica Wong has won her case against her dance instructors, and is due the return of $7.7m in fees she paid them for 8 years of exclusive and unlimited lessons.

The banker, who took 2 weeks off to attend the trial, paid $8m upfront, but then fell out with her instructors. She claimed that Saccani humiliated her in front of other dancers, and shouted at her to 'move your ar.s'. Saccani claimed that he was merely using 'motivational' language in a bid to improve Ms Wong's technique, but did admit to calling her a 'lazy cow'.

Ms Fairweather and Saccani's counterclaim for $7.3m still owed them under the original agreement was also kicked into touch.

At least when it comes to dancing, Wong is undeterred by the experience. "I will continue to dance and compete for as long as possible," she said Wednesday. "It is my passion."

http://news.hereisthecity.com/news/business_news/5917.cntns

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