JLA Asia Limited appointed as Provisional Liquidators of Salisbury

Written By: on INSOLVENCY MANAGEMENT, LIQUIDATION

SALISBURY SECURITIES LIMITED (Provisional Liquidators Appointed) (“Salisbury”) COMPANIES WINDING-UP NO. 165 OF 2013

On Monday 24 June 2013, we were appointed Joint and Several Provisional Liquidators of Salisbury by an Order of the High Court of the Hong Kong Special Administrative Region on the application of the Securities and Futures Commission (“SFC”) of Hong Kong, pursuant to Section 193 of the Companies Ordinance.

The operations of Salisbury are also subject to the Restriction Notice which was issued pursuant to Sections 204 and 205 of the Securities and Futures Ordinance and was served on Salisbury on 19 March 2013. Pursuant to the Restriction Notice, Salisbury is prohibited from carrying on all the regulated activities for which it is licensed, disposing of or dealing with any assets held by it or held on behalf of its clients, and assisting, counselling or procuring another person to dispose of or deal with any such property.

We are now proceeding to verify the entitlements of all clients and once these are established, we will apply to the Court for consent to make distributions. Any derivative warrants owned by clients will also be dealt with expeditiously. We will send a circular to all clients explaining the situation and asking them to complete a claim form which will assist us to complete our investigation.

We are very conscious of the concerns of all clients of Salisbury, and we will provide further updates on the progress of the administration as developments occur.

All enquiries concerning this matter should be directed to our hotline numbers, (+852) 2842 5091, from 9:00am to 1:00pm and from 2:00pm to 6:00pm, Monday to Friday.

J R Lees
Mat Ng
Joint and Several Provisional Liquidators

28 June 2013