John Lees of John Lees & Associates has been appointed by the court to administer the property of Whole Win and the assets it holds on behalf of clients.

The Securities & Futures Commission said the administrator has been appointed principally to protect the interests of Whole Win's clients. The court has granted the administrator wide powers, including the power to investigate Whole Win's affairs, to verify clients' claims and, subject to first obtaining a direction from the court, to return client assets.

The commission has asked the administrator to first focus on establishing the position of cash clients and returning their securities. The appointment is likely to assist and speed up the task of identifying whether any client assets are missing. The administrator will also take such steps as he considers appropriate to protect the interests of clients who have applied through Whole Win for shares in the Bank of China.

The order appointing the administrator is an interim order and the matter will come back to court for another hearing on June 9 when Whole Win will have the opportunity to oppose the continuation of the order and to present evidence and arguments.

Whole Win clients can contact the administrator on 2842 5005.