28 Jan 2003
RE HUI YAU YAT
- Citation
- RE HUI YAU YAT
- Court
- Court of First Instance
- Case number
- HCBI1142/2002
Section 128(1) of the Bankruptcy Ordinance applies to funds referred to in Rule 122C(2)(j) of the Bankruptcy Rules; parties to an IVA cannot contract out of the mandatory obligation in section 128(1). Nominees must pay to the Official Receiver funds/dividends that have been unclaimed for more than six months, and upon termination of an IVA nominees may either retain unclaimed funds until the six‑month period expires or pay them earlier to the Official Receiver; IVA proposals must make provision consistent with section 128(1).