Compliance & Enforcement
Compliance & Enforcement
The Official Receiver obtained 3 disqualification orders during the period.
The directors’ misconducts involved, amongst others, failure to fully cooperate with the liquidators and the Official Receiver, failure to ensure due payments of wages and other payments to employees, failure to ensure due payments of Mandatory Provident Fund contributions and surcharges for employees, failure to submit Statement of Affairs, failure to keep proper accounting records contrary to section 274 of Cap. 32 and sections 373 and 377 of the Companies Ordinance, Cap. 622, and misuse of the bank account of the company.
The period of the disqualification orders ranged from 3 to 4.5 years.
For further statistics on the director disqualification cases, please click here.