23 Feb 2023
RE THE JOINT AND SEVERAL LIQUIDATORS OF NERICO BROTHERS LTD
- Citation
- [2023] HKCFI 604
- Court
- Court of First Instance
- Case number
- HCMP2205/2022
The Court was satisfied on the evidence and contractual documentation that the Company acted as trustee of client assets and that the JLs had taken reasonable steps to return those assets; accordingly the Court exercised its powers under sections 56 and 62 of the Trustee Ordinance to permit withdrawal and deposit of CCASS share certificates with the Court, to permit sale or disposal (including forfeiture) of FinEX Fund shares if unclaimed after three months and of other securities whose certificates cannot be withdrawn, and to permit payment into Court of unclaimed cash and sale proceeds.