Hong Kong Regulations

COMPANIES (WINDING-UP) RULES - RULE 28

Appointment of provisional liquidator

PROVISIONAL LIQUIDATOR

(1) After the presentation of a petition, upon the application of a creditor,
or of a contributory or of a petitioner, or of the company, and upon proof by
affidavit of sufficient grounds for the appointment of a provisional
liquidator, the court, if it thinks fit, and upon such terms as in the opinion
of the court shall be just and necessary, may make the appointment. (L.N. 376
of 1989)

(1A) Before an order appointing a provisional liquidator is made, the
applicant for the order shall deposit with the Official Receiver the sum of
$3500 towards the fees and expenses of the Official Receiver in connection
with such appointment. (L.N. 433 of 1993; L.N. 286 of 1997)

(2) The order appointing the provisional liquidator shall bear the number of
the petition, and shall state the nature and a short description of the
property of which the provisional liquidator is ordered to take possession,
and the duties to be performed by the provisional liquidator. (See Form 9)

(3) Subject to any order of the court, if no order for the winding up of the
company is made upon the petition, or if an order for the winding up of the
company on the petition is rescinded, or if all proceedings on the petition
are stayed the provisional liquidator shall be entitled to be paid, out of the
property of the company, all the costs, charges, and expenses properly
incurred by him as provisional liquidator, including such sum as is or would
be payable under the scale of fees in force for the time being where the
Official Receiver is appointed provisional liquidator, and may retain out of
such property the amounts of such costs, charges, expenses, and fees. (L.N.
201 of 1984)

(4) Where any person other than the Official Receiver has been appointed
provisional liquidator and the Official Receiver has taken any steps for the
purpose of obtaining a statement of affairs or has performed any other duty
prescribed by these rules the provisional liquidator shall pay the
Official Receiver such sum, if any, as the court directs. [cf. R. 31]