Hong Kong Case Law: Decisions & Judgments

Topic

Trustee ordinance s62

Legal area

Court

11 Feb 2025

RE BANK OF CHINA (HONG KONG) TRUSTEES LTD

Citation

[2025] HKDC 203
Court

District Court
Case number

DCMP5517/2024

The applicant is a trust company holding the Unclaimed Assets as trustee; the assets have been unclaimed for the statutory period; the applicant exhausted reasonable steps to trace beneficiaries; accordingly an order under s104 of the Trustee Ordinance was justified to pay the Unclaimed Assets and accrued interest into court, with prescribed notification to last known addresses and discharge of the applicant upon compliance.
30 May 2024

RE MING HON SECURITIES LTD

Citation

[2024] HKCFI 1486
Court

Court of First Instance
Case number

HCMP530/2024

The court was satisfied that the applicant held the assets as trustee and had taken reasonable steps to contact clients but some assets remained unclaimed; accordingly it was expedient under ss56 and 62 of the Trustee Ordinance to order the unclaimed cash and securities to be paid into Court, and the order in terms of the draft was made.
28 Sept 2022

RE EMINENT ASSETS LTD

Citation

[2022] HKCFI 3004
Court

Court of First Instance
Case number

HCMP1212/2022

The court was satisfied the assets were held by the applicant as trustee and that despite reasonable efforts beneficiaries could not be contacted, and therefore it was expedient to permit payment of the unclaimed assets into court, subject to deductions for assessed costs and advertising, permission to withdraw and deposit or sell securities and to give prescribed notice by publication and letters.
3 Mar 2022

GOLDIN EQUITIES LTD v. PERSONS STATED IN SCHEDULE I TO THE ORIGINATING SUMMONS FILED ON 23RD JUNE 2021

Citation

[2022] HKCFI 740
Court

Court of First Instance
Case number

HCMP871/2021

The court concluded that the applicant holds the unclaimed cash and securities on trust, that it had made sustained and reasonable efforts to notify and return assets, that further delay was not justified given continuing uncertainty from COVID-19 and the limited number of clients likely still to claim, and that in the exceptional prevailing circumstances leave should be granted under section 62 for the applicant to pay the unclaimed cash and physical share certificates into court subject to specified public and direct notifications and compliance with Order 92.
17 Mar 2017

RE TONG SIU WING

Citation

RE TONG SIU WING
Court

Court of First Instance
Case number

HCB2317/2009

Where a co-owner cannot be found or contacted, the court will grant an order for sale and protect the absent co-owner's interest by directing that his share of the net proceeds be paid into court; absence of the co-owner does not bar the sale when the other parties do not contest the application and the trustees seek that protective measure.
7 Jun 2006

RE CHEKIANG FIRST SECURITIES CO LTD

Citation

RE CHEKIANG FIRST SECURITIES CO LTD
Court

Court of First Instance
Case number

HCMP923/2006

Where a trustee holding unclaimed securities and cash has made reasonable efforts to contact customers and beneficiaries, the court will permit lodgement of those assets into court under section 62 of the Trustee Ordinance and Order 92 of the Rules of the High Court, subject to appropriate advertisement and directions for dealing with unclaimed property under the Suitors' Fund Rules.

Hong Kong Case Law

RE BANK OF CHINA (HONG KONG) TRUSTEES LTD

RE MING HON SECURITIES LTD

RE EMINENT ASSETS LTD

GOLDIN EQUITIES LTD v. PERSONS STATED IN SCHEDULE I TO THE ORIGINATING SUMMONS FILED ON 23RD JUNE 2021

RE TONG SIU WING

RE CHEKIANG FIRST SECURITIES CO LTD