XN000022-1996-10-31 — Page 4

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The spokesman pointed out that resettlement of the refugees in Pillar Point had slowed down but it did continue.

year.

A total of 252 Vietnamese refugees have been resettled from Hong Kong this

With regard to services available to the refugees, the spokesman said education and other social services were provided in Pillar Point by non-government organisations appointed by UNHCR.

"In view of their temporary status, Vietnamese refugees only have limited access to government services.

"However, on the recommendation of UNHCR, the Government remains willing to consider giving assistance to vulnerable cases amongst the refugee population," the spokesman said.

End

Report on corporate rescue published

The Law Reform Commission today (Thursday) published a report on corporate rescue and insolvent trading.

The report follows the issue of a consultation paper in May 1995 by the Commission's insolvency sub-committee which proposed that a comprehensive procedure to facilitate the rescue of viable companies as an alternative to winding-up was needed in Hong Kong. The procedure would be known as provisional supervision.

The consultation paper also proposed that directors and senior management of companies which trade while insolvent should be open to liability to pay compensation to creditors after a company was wound up.

The report explains that the Companies Ordinance only made rudimentary provision for arrangements and reconstructions by companies whereas provisional supervision envisages a comprehensive procedure that companies could utilise if they were trading into difficulties.