- 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 application for judicial review filed on May 24, 2023, remains active before the Federal Court, as of the most recent updates dated April 29, 2025. The Court has not dismissed the proceeding. Instead, the case is progressing through status updates and judicial direction following delays and requests to remove counsel of record. No upcoming hearing is currently scheduled on the docket for case T-1186-23. The last hearing occurred on April 12, 2024.

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

- Amount: No financial award was specified.