18 May 1998
NG YAT CHI v. MAX SHARE LTD AND ANOTHER
- Citation
- NG YAT CHI v. MAX SHARE LTD AND ANOTHER
- Court
- Court of Final Appeal
- Case number
- FACV3/1997
The Court held that a trustee in bankruptcy's disclaimer under s.59 does not deprive a registered bankrupt holder of the right to petition or seek s.168A relief when the registered holder holds fully paid shares in trust for a beneficial owner; the disclaimer extinguishes only the bankrupt's own beneficial interest and does not affect the rights of the beneficial owner which remain enforceable, and thus the registered bankrupt retained locus to present the petition on behalf of the beneficial owner; additionally the trustee in bankruptcy has an independent statutory right to present a petitio…