‘Overwhelming’ interest in auction for Rafael’s Hui’s Hong Kong memorabilia collection
Although few people have placed formal bids, around 200 have expressed interest in items being sold to offset Hui’s reported debts of HK$75 million
About 200 people, mostly from Hong Kong, have expressed interest in some of the 79 treasured pieces of memorabilia that once belonged to former top official Rafael Hui Si-yan and are now up for grabs in a public tender to offset his reported debts of HK$75 million.
JLA Asia, one of the trustees handling the property of the bankrupt and jailed former chief secretary, described the response as “overwhelming” after the first day of the public tender ended on Friday.
But few interested parties have placed formal bids yet, according to the firm.
JLA Asia has put up a variety of items for sale from Hui’s private collection, which include Chinese paintings, sculptures, collectible banknotes, stamps and souvenirs. The latest public tender came after two separate rounds had fetched an unknown amount last year.
Hui’s wine collection was sold, also for an unspecified amount, in April last year.
JLA Asia earlier said the latest round is believed to be the last of the series to be arranged for Hui’s creditors, unless more valuables under his name can be found.
At least five banks have filed writs in an attempt to recover loans taken out by Hui. They include Chong Hing Bank which is seeking HK$9.8 million, Honour Finance seeking HK$3.16 million, Standard Chartered for HK$1.19 million and Hang Seng for HK$780,000.
Hui, who is serving time now, was arrested in March 2012 by the Independent Commission Against Corruption on suspicion of misconduct in public office. His trial – along with that of Sun Hung Kai Properties co-chairmen Thomas Kwok Ping-kwong and Raymond Kwok Ping-luen – which opened in early June 2014, has since been called the most high-profile corruption trial in Hong Kong’s history.
