Rafael Hui Si-yan

Ex-chief secretary Hui’s financial woes just keep piling up

PUBLISHED : Friday, 30 August, 2013, 12:00am
UPDATED : Friday, 30 August, 2013, 7:56am

The line of creditors knocking at the door of embattled former chief secretary Rafael Hui Si-yan continues to grow, with a fourth lender filing court action to claim at least HK$1.2 million.

Standard Chartered Bank says Hui has failed to make the minimum payments for the outstanding sum. It sent reminders to him last month.

Hui, 65, is embroiled in the highest-profile corruption case in Hong Kong's history with Sun Hung Kai Properties (SHKP) co-chairmen Thomas Kwok Ping-kwong and Raymond Kwok Ping-luen.

In the latest lawsuit over loans, Standard Chartered sent two letters to Hui on July 3 demanding repayment within seven days. But Hui failed to respond, the bank says in a High Court writ.

The bank is claiming HK$1.19 million and interest arising from loans that Hui drew on four credit cards and a personal overdraft.

"The defendant has failed to pay the minimum payment due by payment due date two times in the past 12 months," the writ says. It says further proceedings will be stayed if he pays within 14 working days.

Last week, Chong Hing Bank sued Hui over a HK$9.8 million loan.

On August 13, Honour Finance, a finance company owned by SHKP, filed two High Court writs to retrieve more than HK$3 million over a loan taken out in 2004.

It is claiming HK$3.16 million from Hui as guarantor of a loan taken by Top Faith Enterprises - which is owned and controlled by Hui.

The identity of the lender and the claim amount match the particulars of offences Hui faces in the criminal case that followed an investigation by the Independent Commission Against Corruption.

And in April, the Bank of East Asia also filed a High Court writ, claiming debts related to overdrafts and credit cards.

In March, Hui, the Kwok brothers and two others pleaded not guilty in Eastern Court to eight joint charges filed by the ICAC.

Hui faces all eight charges, including one of misconduct in public office.

This charge alleges that when he was chief secretary, from June 2005 to June 2007, he failed to declare or disclose provisions and annual extensions of a HK$3 million unsecured loan from Honour Finance - the claimant in the civil suit.