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Hong Kong fire-hit estate administrator to keep refunding owners
Hop On Management Company said it is still settling contracts tied to the estate's major repair fund and prepaid management fees, after organizing more than 800,000 documents to reconcile payments.
Hong Kong home affairs minister Alice Mak Mei-kuen said the government-appointed administrator of Wang Fuk Court in Tai Po, Hop On Management Company, is still settling contracts and gradually issuing refunds to owners. Mak described the refunding process as drawing from the remaining balance of the estate’s major repair fund and prepaid management fees, responding to residents’ concerns.
Mak said the administrator is working through termination terms and compensation provisions contained in contracts signed by the owners’ corporation. She also said Hop On has organized more than 800,000 documents to check residents’ payments and deposits, describing the records as “quite chaotic” after decades of untidied documentation.
Mak added that owners would still be able to receive refunds from the estate’s funds even if they accepted the government’s buy-back plan. The comments were made during a radio appearance, according to SCMP Economy.