Hong Kong Case Law: Decisions & Judgments

Topic

Unclaimed assets

Legal area

Court

30 Jun 2025

RE FAIRWIN BROKING LTD

Citation

[2025] HKDC 1066
Court

District Court
Case number

DCMP7038/2024

Applicant established it held the assets on trust, demonstrated reasonable and extensive efforts to locate and notify clients, addressed all requisitions raised at first hearing, and where clients had given instructions no court‑conferred power was needed; accordingly the court granted the summons to amend the OS and granted leave under the Trustee Ordinance to deal with unclaimed, delisted and dead stock securities (including sale, forfeiture and deposit of proceeds into court) subject to the terms in the draft order and permitted redaction of personal data; costs procedure ordered as direct…
18 Jun 2025

RE EWARTON SECURITIES LTD

Citation

[2025] HKDC 1011
Court

District Court
Case number

DCMP6251/2024

Leave granted under ss 56 and 62 of the Trustee Ordinance to pay/deposit the unclaimed cash and eligible securities into court, and to empower the applicant to dispose of or forfeit securities that cannot be withdrawn or have no practical market value, because the applicant holds the assets on trust, has taken all reasonable steps to notify clients, and it is expedient to facilitate winding up by such orders.
13 Jun 2025

RE CHINA-HONG KONG LINK SECURITIES COMPANY LTD (In Members’ Voluntary Liquidation)

Citation

[2025] HKCFI 2571
Court

Court of First Instance
Case number

HCMP523/2025

The Unclaimed Assets are held on trust by the applicant; the trust instrument does not vest power to dispose; the applicant demonstrated reasonable efforts to contact beneficiaries; given the cessation of business and relatively small values it is expedient to permit payment of unclaimed monies and securities into court and to allow sale/forfeiture or other disposal of unclaimed securities, with proceeds and dividends to be paid into court and the applicant discharged thereafter.
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.
11 Feb 2025

RE BANK OF CHINA (HONG KONG) TRUSTEES LTD

Citation

[2025] HKDC 202
Court

District Court
Case number

DCMP5291/2024

The court concluded the applicant is a registered trust company, the disputed sums are trust property held since 2004 and have been unclaimed for more than six years; the applicant demonstrated it took reasonable steps to trace beneficiaries; accordingly s104 compelled payment into court and the court ordered payment into court and a declaration discharging the applicant upon compliance, with no order as to costs.
6 Feb 2025

RE SECURIS CAPITAL LTD

Citation

[2025] HKCFI 605
Court

Court of First Instance
Case number

HCMP35/2025

Assets were held on trust; the applicant demonstrated reasonable and repeated efforts to contact beneficiaries but 35 remained unresponsive; accordingly the court exercised its discretion under sections 56 and 62 Trustee Ordinance to permit sale of unclaimed stock and payment of unclaimed USD and HKD cash into court, subject to prescribed notification, and discharged the trustee upon compliance.
22 Nov 2024

RE TAI FUNG SECURITIES LTD

Citation

[2024] HKCFI 3369
Court

Court of First Instance
Case number

HCMP1871/2024

The court granted the amended ex parte originating summons because the applicant holds the assets as trustee, demonstrated reasonable and extensive steps to contact beneficiaries, and justified payment into court and discretional disposal under ss.56 and 62 TO; the court permitted recovery of costs from unclaimed cash to the extent of available funds and allowed the draft order with specified amendments (excluding Client 311 and removing duplications).
7 Jun 2024

RE PUBLIC SECURITIES LTD

Citation

[2024] HKCFI 1526
Court

Court of First Instance
Case number

HCMP601/2024

The court held that the Unclaimed Assets are trust property, the applicant had taken all reasonable steps to locate and notify beneficiaries, and it was appropriate to exercise the court’s discretion under s.62 to pay cash into court and deposit share certificates, and under s.56 to permit sale of shares where certificates cannot be obtained and forfeiture of delisted shares where justified.
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.
27 Mar 2024

RE GT CAPITAL LTD

Citation

[2024] HKCFI 1007
Court

Court of First Instance
Case number

HCMP250/2024

The court was satisfied on the evidence that the applicant held the monies and securities as trustee and had used reasonable and sufficient endeavours to notify and obtain instructions from beneficiaries over a period exceeding two years; accordingly the court exercised its discretion under ss56 and 62 of the Trustee Ordinance and Order 92 to authorise the applicant to dispose of the unclaimed assets and to recover the costs of the application from the unclaimed cash.