XN000022-1986-10-27 — Page 10

MONDAY, OCTOBER 27, 1986

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INSOLVENT CASE WITH A HAPPY ENDING

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THE CONCILIATION EFFORTS OF THE LABOUR DEPARTMENT, THE OFFICIAL RECEIVER'S OFFICE AND THE HONG KONG AND KOWLOON SPINNING WEAVING AND DYEING TRADE WORKERS GENERAL UNION IN RESOLVING AN INSOLVENT CASE RECEIVED DUE RECOGNITION TODAY (MONDAY).

AT A PRESENTATION CEREMONY HELD AT THE LABOUR DEPARTMENT'S HE ADQUARTERS, THREE WORKER REPRESENTATIVES OF THE FORMER KING'S DYEING AND WEAVING FACTORY LTD. PRESENTED SOUVENIRS TO THE PARTIES CONCERNED IN APPRECIATION OF THEIR SERVICES.

RECEIVING THE SOUVENIRS WERE THE CHIEF LABOUR OFFICER OF THE LABOUR RELATIONS DIVISION, MR K.K. CHAN, SENIOR LABOUR OFFICER WHO HANDLED THE CASE, MR CHU PING-IM, THE OFFICIAL RECEIVER, MR E.G, KNOS, AND THE VICE-CHAIRMAN OF THE UNION, MR TSANG CHUNG-FUN.

THE CASE INVOLVED A LARGE DYEING FACTORY WHICH BECAME INSOLVENT IN JULY THIS YEAR.

THE COURT APPOINTED THE OFFICIAL RECEIVER TO TAKE OVER THE BUSINESS TOWARDS THE END OF JULY. SINCE THEN, IT WENT ALL THE WAY TO HELP RESCUE THE FACTORY, PUT IT BACK TO NORMAL OPERATION AND SOLD IT AS AN ON-GOING CONCERN TO ANOTHER COMPANY IN EARLY SEPTEMBER.

THE LABOUR RELATIONS DIVISION OF THE DEPARTMENT WAS ACTIVELY INVOLVED IN ORGANISING CONCILIATION MEETINGS AMONG ALL PARTIES CONCERNED WHILE THE HONG KONG AND KOWLOON SPINNING WEAVING AND DYEING TRADE WORKERS GENERAL UNION PLAYED AN ACT I VE AND CONSTRUCTIVE ROLE IN THE DISPUTE.

ON BUYING THE FACTORY, THE NEW OWNER ALSO OFFERED EMPLOYMENT TO ALL EMPLOYEES ON THE SAME TERMS AND CONDITIONS OF THEIR FORMER EMPLOYMENT PLUS A DISCRETIONARY YEAR-END BONUS.

THE EMPLOYEES ACCEPTED THE OFFER AND THE NEW FACTORY IS NOW RUNNING SMOOTHLY.

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