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The role of the Official Receiver's Office in personal and corporate insolvencies is to ensure that the insolvency service it provides in Hong Kong is of a high quality, on a par with international standards and that the legislation is commensurate with the objective of keeping Hong Kong to the forefront as a major international financial centre.
The Official Receiver's Office, which is organized into three main Divisions: Case Management, Legal Services, Financial Services, has the following major functions:
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provides insolvency management services when appointed by the Court and creditors to act as trustee or as liquidator; realize assets of insolvent companies and bankrupts, investigate and agree on creditor's claims; distribute proceeds
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acts as trustee or liquidator of last resort in small cases
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investigates the affairs of bankrupts, directors and officers of insolvent companies; report to the Court on causes of business failures; take action on prosecuting persons for insolvency offences
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monitors the conduct of private insolvency practitioners, invest funds, audit accounts and investigate complaints against liquidators and trustees
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reviews and propose changes to laws, policies and procedures relating to insolvency issues, and liaise with international insolvency agencies
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provides support to other Government Departments and statutory bodies involved in insolvency matters
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