Hui declared bankrupt

A man who for two years was Hong Kong's No2 government official is now officially bankrupt.儲存 Former chief secretary Rafael Hui Si-yan was declared bankrupt by High Court master Hui Ka-ho following a petition by Bank of East Asia, which said the 65-year- old owed it money. Hui, who was not in court yesterday, also faces eight charges related to corruption, along with Sun Hung Kai Properties co-chairmen Thomas Kwok Ping-kwong and Raymond Kwok Ping-luen. BEA filed a petition in September to have Hui declared bankrupt, five months after it filed a writ against him demanding payment of dues under two overdraft facilities and two credit cards. Hui is said to owe Bank of East Asia HK$60 million, and other financial institutions another estimated HK$15 million, including HK$3.16 million owed to SHKP-owned Honour Finance, HK$9.84 million to Chong Hing Bank, HK$1.19 million to Standard Chartered Bank and HK$780,000 to Hang Seng Bank, bringing likely total debts to HK$75 million. Though Hui is now bankrupt, a source close to the family said his wife will foot the legal fees for his corruption case, due to be heard in May, and he will not be applying for legal aid. Hui reportedly decided not to hire a Queen's Counsel or Senior Counsel to defend him in the corruption case after receiving the BEA writ in April demanding payment. He will be represented by barrister Edwin Choy Wai-bond.迷你倉A Civil Services Bureau spokesman said pension payments to those declared bankrupt are normally suspended until the bankruptcy order is discharged. But the person concerned may apply to the bureau for ex-gratia payment for living expenses and debts, for an amount not exceeding the original pension. ``The bureau will consider the opinion of the provisional trustee before approving the application,'' the spokesman said. Those bankrupt are not allowed to purchase luxury items, such as cars, or travel by taxi without reasonable grounds to do so. Solicitor Leung Wing-hang said Hui must forgo luxury and be under the supervision of a provisional trustee for at least four years. He will have to make a prior declaration if he needs to leave Hong Kong, as an explanation is needed for approving travel costs. But the provisional trustee will approve travel paid for by a third party. He must also declare costly buys such as watches and wines. However, Leung added: ``If his family signs legal documents to prove they will pay his legal costs and the trustee approves this, Hui will not need to rely on legal aid.'' In March, Hui, the Kwok brothers and two others pleaded not guilty to multiple corruption charges following an investigation by the Independent Commission Against Corruption. Hui faces eight charges, including misconduct in public office. staff.reporter@singtaonewscorp.com self storage