Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Discharge of trustee

Legal area

Court

19 Mar 2024

RE CHANGJIANG FUTURES (HK) LTD

Citation

[2024] HKCFI 832
Court

Court of First Instance
Case number

HCMP318/2024

The court found the applicant holds the unclaimed cash on trust (established by contract clause 7.1), was shown to have made reasonable and continuous efforts to contact clients, and it was a proper exercise of discretion under s62 to permit payment of the funds into court; leave to amend and to advertise under Order 92 r4 were granted and the applicant will be discharged from liability upon compliance with the court's directions.
6 May 2021

RE GRAND SECURITIES CO LTD

Citation

[2021] HKDC 545
Court

District Court
Case number

DCMP4203/2020

The applicant holds the Delisted Shares and Remaining Unclaimed Funds as trustee for the residual clients; sections 56 and 62 of the Trustee Ordinance are engaged; the court grants the applicant liberty to deal with the delisted shares (including forfeiture) and allows payment of the remaining unclaimed funds into court after deduction of costs, and discharges the applicant as trustee; costs summarily assessed at HKD 30,870.