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WEDNESDAY, OCTOBER 31, 1990
GOVERNMENT ADVISED OF PROCEEDINGS AGAINST HANG LUNG BANK
THE GOVERNMENT WAS ADVISED THAT PROCEEDINGS HAD BEEN ISSUED BY PNC INTERNATIONAL FINANCE (ASIA) LTD AND THE ROYAL BANK OF CANADA AGAINST THE HANG LUNG BANK ("HLB") (NOW KNOWN AS DAO HENG BANK) IN USA то RECOVER LOSSES INCURRED IN LOANS ΤΟ DOLLAR CREDIT AND FINANCING LTD ("DOLLAR CREDIT") AS A RESULT OF AN ALLEGED CONSPIRACY BETWEEN HLB AND DOLLAR CREDIT BEFORE THE GOVERNMENT TOOK OVER HLB IN 1983.
IN CONNECTION WITH THE SALE OF HLB IN SEPTEMBER 1989, THE FINANCIAL SECRETARY INCORPORATED HAS GIVEN AN INDEMNITY AGAINST ANY ACTUAL LOSSES OR COSTS INCURRED BY HLB (NOW DAO HENG BANK) AS A RESULT OF THE PROCEEDINGS, PURSUANT TO THIS INDEMNITY, THE GOVERNMENT IS ASSUMING RESPONSIBILITY FOR THE CONDUCT OF THE ACTION WITH THE COOPERATION AND ASSISTANCE OF HLB (NOW DAO HENG BANK). IT IS INTENDED THAT THE PROCEEDINGS WILL BE VIGOROUSLY CONTESTED.
205 VBP RETURNED
*
A GROUP OF 205 VIETNAMESE BOAT PEOPLE TODAY (WEDNESDAY) RETURNED TO VIETNAM UNDER THE UNHCR'S VOLUNTARY REPATRIATION PROGRAMME.
COMPRISING 79 MEN, 52 WOMEN, 41 BOYS AND 33 THE 37TH BATCH TO GO BACK UNDER THE PROGRAMME.
GIRLS, THEY WERE
SO FAR, A TOTAL OF 4,899 VIETNAMESE BOAT PEOPLE HAVE RETURNED VOLUNTARILY.
UNAUTHORISED BUILDING WORKS TO BE CLOSED
* * *
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THE BUILDING AUTHORITY IS SEEKING то CLOSE AN UNAUTHORISED BUILDING WORKS AT THE UPPER ROOF OF 14 CHUNG WO LANE IN CENTRAL SO THAT THEY CAN BE DEMOLISHED WITHOUT DANGER TO THE OCCUPIERS AND THE PUBLIC.
HONG
NOTICE OF INTENTION TO APPLY FOR A CLOSURE ORDER FROM THE KONG DISTRICT COURT ON JANUARY 17, 1991 WAS POSTED ON THE STRUCTURES TODAY (WEDNESDAY).
UNDER THE BUILDING ORDINANCE, A CLOSURE ORDER IS REQUIRED BEFORE THE DEMOLITION CAN BE CARRIED OUT.
IT IS EXPECTED THAT DEMOLITION WORK WILL BE
CARRIED OUT ONCE
THE CLOSURE ORDER IS OBTAINED.
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