Hong Kong Regulations

PROOF OF DEBTS RULES - RULE 20

Caution: This is a past version. See the current version here.

On any debt or sum certain, payable at a certain time or otherwise, whereon
interest is not reserved or agreed and which is overdue at the date of the
bankruptcy order and provable in bankruptcy, the creditor may prove for
interest at the rate determined under section 49(1)(b) of the Supreme Court
Ordinance ( Cap 4) that is in effect on the date of the bankruptcy order to
the date of the order from the time when the debt or sum was payable, if the
debt or sum is payable by virtue of a written instrument at a certain time,
and if payable otherwise, then from the time when a demand in writing has been
made giving the debtor notice that interest will be claimed from the date of
the demand until the time of payment. (L.N. 85 of 1998)
___________________________________________________________________ Notes: 1.
Please see the transitional provisions contained in s. 8 of L.N. 85 of 1998,
which section is reproduced as follows: "8. Transitional

Where before these Rules come into operation-

   (a)  a petition in bankruptcy has been presented; or

   (b)  a receiving order or adjudication in bankruptcy has been made, under
        the Ordinance, then the principal Rules as they existed before being
        amended by these Rules continue to apply to proceedings in respect of
        such a petition, receiving order or adjudication in bankruptcy."

2. L.N. 85 of 1998 came into operation on 1 April 1998.