UNKNOWN investors, believed to be from Taiwan, have stepped forward to try to claim about $400 million that have been in a court bank account for nearly two years.
They have started legal action on the grounds that they are the true owners of nearly 200 million shares in the World Trade Centre Group (WTCG) that were frozen in 1993 when an inspector appointed by the Financial Secretary could not find out who owned them.
The shares were sold, and the cash raised will be held by the court until the owner is found.
A solicitor with a Hong Kong law firm confirmed he had been employed to represent 'certain claimants who claim that the shares belong to them and the proceeds should be paid to them'.
At least two Queen's Counsel and other barristers have been hired. It is believed the costs will be borne by the Government if the claim is successful.
The shares were originally registered to companies Commercial Success, Killeny and La Fayette.
The claimants won a hearing presided by a registrar in chambers, but the Attorney General has appealed.