15 Nov 2007
RE AFK HONG KONG LTD
- Citation
- RE AFK HONG KONG LTD
- Court
- Court of First Instance
- Case number
- HCCW435/2006
Payments under section 15(2)(b) of the Employment Ordinance do not constitute "accrued holiday remuneration" under section 265(1)(cd) of the Companies Ordinance; such payments are effectively wages (or treated as wages under s265(5C)) and therefore, given the statutory caps on preferential wages, only the entitlement properly characterised as s15(2)(b) (HK$21,000) is preferential and the balance remains unsecured; liquidators' classification is upheld and the application to vary is dismissed.