15 Oct 2021
RE SHUN LOONG FINANCE LTD
- Citation
- [2021] HKDC 1285
- Court
- District Court
- Case number
- DCMP4204/2020
The court granted the application because the applicant established that the assets were held on trust and that, despite reasonable endeavours (letters and newspaper advertisement), the beneficiaries could not be contacted or were unresponsive; accordingly it was appropriate and expedient under section 56 Trustee Ordinance to authorize sale of specified unclaimed securities and to dispose/forfeit delisted shares, odd lot shares and very small cash balances, and under section 60 and Order 92 to pay sale proceeds and other unclaimed cash into court; costs were summarily assessed at HK$55,000.