29 Mar 2023
RE KVB KUNLUN ASSET MANAGEMENT (HK) LTD
- Citation
- [2023] HKCFI 907
- Court
- Court of First Instance
- Case number
- HCMP250/2023
The applicant proved the assets were held on trust and that reasonable steps were taken to notify and locate clients; accordingly, the court exercised its discretion under sections 56 and 62 of the Trustee Ordinance to order payment of unclaimed cash into court, to permit withdrawal and deposit of physical share certificates where obtainable and, as fallback, sale or other disposal (including forfeiture) of securities with proceeds paid into court, together with publication of notices, discharge of the trustee upon compliance, liberty to apply and no order as to costs.