Bank settles retiree's case
The Bank of China has reached an out-of-court settlement with a retired fisherman who sued it for the return of HK$800,000 he invested in Lehman Brothers-backed products. Lai Kam-fook, 62, refused to reveal the amount of the settlement. 'All I can say is that I am very satisfied,' he said outside the District Court yesterday. Mr Lai conducted his own case. In the writ he filed on December 2, he alleged that he was deceived about the investment products because he was illiterate.
Private sector vacancies plunge
The number of job vacancies in the private sector in September plunged by 9 per cent, or 4,550, to 47,769 compared with a year earlier, according to the Census and Statistics Department. But total employment was up 2.2 per cent, or 54,400 persons, from the same month a year earlier. The sector that had the biggest decrease in vacancies was the finance and insurance sector, with a 25 per cent drop from a year earlier.
Bankruptcy petitions jump 20pc
The number of bankruptcy petitions to the Official Receiver's Office surged almost 20 per cent last month to 1,223, from 986 in October, according to the office's latest statistics. Bankruptcy orders also surged by almost one-fifth.
