24 Aug 2023
RE PRESIDENT SECURITIES (HONG KONG) LTD
- Citation
- [2023] HKCFI 2212
- Court
- Court of First Instance
- Case number
- HCMP1153/2023
The Court found that President Securities holds the unclaimed cash, securities and bonds as trustee and had made reasonable efforts to contact clients who remained unresponsive; accordingly the Court granted the ex parte application and gave leave under sections 62 and 56 Trustee Ordinance to pay cash into Court and deposit bond certificates, to obtain and deposit share certificates or, failing that within specified timeframes, to sell or dispose of the shares and pay proceeds into Court and, if sale is impossible, to forfeit the shares, and also ordered that dividends, bond shares and rights…