Case Document

100%Judiciary

HCMP 1518/2013

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

MISCELLANEOUS PROCEEDINGS NO 1518 OF 2013

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	IN THE MATTER of A one Investment Company Limited (大一投資有限公司)
	and
	IN THE MATTER of Section 62 of the Trustee Ordinance, Chapter 29 of the Laws of Hong Kong
	and

IN THE MATTER of Order 92 of the Rules of the High Court, Chapter 4A of the Laws of Hong Kong

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A ONE INVESTMENT COMPANY LIMITED
(大一投資有限公司)

Applicant

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Before: Hon Anthony Chan J in Chambers

Date of Hearing: 23 October 2013

Date of Decision: 23 October 2013

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D E C I S I O N

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1.On 16 July 2013, this court gave a judgment allowing the application of A One Investment Co Ltd (“Company”) to pay and deposit certain unclaimed cash and securities, which belong to its customers with whom it had lost contact, into court.

2.Save for some shares in 3 delisted companies (“DelistedShares”), the order made pursuant to that judgment (“Order”), including the advertisement of the same, has been complied with.

3.The application now before this court is to deal with the Delisted Shares. The reason why those shares cannot be deposited with the court has been explained succinctly in the 2^nd affirmation of Lee Alysia Ann filed on 18 September 2013. In short, once a company has been delisted the share registrar (Hong Kong Securities Clearing Co Ltd) would no longer provide share re-registration or splitting services to the registered shareholders. The consequence is that the Company is unable to obtain the share certificates for purpose of meeting the Order.

4.The evidence is that the Delisted Shares are no longer traded in the market and they are of little or no monetary value. No one has come forward to claim them. The companies in question are in compulsory liquidation.

5.The circumstances of this case are very similar to those of Re Piper Jaffrey Asia Securities Ltd (in Liq) [2013] 2 HKLRD 835.

6.I am satisfied that a proper case has been made out for relief pursuant to s 56(1) of the Trustee Ordinance, Cap 29 and I make the order sought in the Summons dated 17 September 2013.

(Anthony Chan)
Judge of the Court of First Instance
High Court

Ms Rachel Tam of Wilkinson & Grist, for the applicant

Cites 1 case

Cases cited in this judgment

Re Piper Jaffrey Asia Securities Ltd (in Members’ Voluntary Liquidation)

[2013] 2 HKLRD 835

Court of First Instance

Full analysis

12 Mar 2013

Cited by 6 cases

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