30 Oct 2019
RE EVERHOT SECURITIES LTD
- Citation
- [2019] HKDC 1464
- Court
- District Court
- Case number
- DCMP2697/2019
The court found the applicant holds the unclaimed securities as trustee, the applicant took reasonable and sufficient steps to notify residual clients, and practical impediments (Registrar not a CCASS participant) justify authorising the applicant to sell or otherwise dispose of the unclaimed securities under s56 TO and pay net proceeds into court under s62 TO to end the trust and discharge trustee obligations; for unsaleable shares where the beneficial owner has abandoned claim (600 shares in 401 Holdings Ltd), the court granted liberty to deal with them including forfeiture and discharged t…