Hong Kong Regulations

BANKRUPTCY RULES - RULE 52

Deposit by petitioner

(Past version on 01/04/1998).
(Past version on 30/06/1997).

(1) Upon the presentation of a petition, the petitioner shall pay to the
Official Receiver a deposit of—

   (a)  in the case of a debtor's petition, the sum of $8650; or

   (b)  in the case of a creditor's petition, the sum of $12150.

(2) No petition shall be received unless the receipt of the Official Receiver
for the deposit payable under paragraph (1) is produced to the Registrar.

(3) After presenting a petition, the petitioner shall deposit with the
Official Receiver such further sum as the court may, on the application of the
Official Receiver, from time to time direct.

(4) The deposit and any further deposit paid shall be applied to cover the
fees, charges and percentages prescribed in the Bankruptcy ( Fees 
and Percentages) Order (Cap. 6 sub. leg. C) and payable to the Official
Receiver, and costs, charges and expenses incurred or authorized by the
Official Receiver, whether acting as trustee or otherwise, including the costs
of any person properly employed by him.

(5) After the deposit and any further deposit have been so applied, the
Official Receiver shall—

   (a)  in the case of a debtor's petition where a provisional trustee is
        appointed under section 12(1A) of the Ordinance—

        (i)    retain any balance of the deposit and further deposit, which
               shall be applied in accordance with section 37(1) of the
               Ordinance; and

        (ii)   after complying with sub-subparagraph (i), account for and pay
               any unexpended balance of the deposit and further deposit to
               the trustee; or

   (b)  in the case of a debtor's petition other than that referred to in
        subparagraph (a) and in the case of a creditor's petition, account for
        and pay any unexpended balance of the deposit and further deposit to
        the trustee.

(6) The trustee shall account for any unexpended balance of the deposit and
further deposit paid to him under paragraph (5)(a)(ii) or (b)—

   (a)  in the case of a debtor's petition, to the bankrupt's estate; or

   (b)  in the case of a creditor's petition, to that creditor.

(7) For the purposes of paragraph (6)(b), the trustee shall—

   (a)  pay any unexpended balance of the deposit and further deposit to that
        creditor; and

   (b)  repay the amount of the deposit and further deposit expended and
        applied under paragraph (4) to that creditor out of the assets of the
        bankrupt in accordance with section 37(1) of the Ordinance. (L.N. 123
        of 2007)