SFC confirms extension of deadline for claims by Maxim Fund investors
The Court of First Instance has granted the Hong Kong Securities and Futures Commission’s (SFC) application to extend the cut-off date for investors to make claims in connection with investment schemes operated by Maxim Capital Limited and Maxim Trader (Maxim Fund) in Hong Kong by 30 November 2023.
In June 2022, the Court mandated 23 July 2022 the cut-off date for investors to make claims when it ordered Maxim Capital Limited and Maxim Trader to pay qualifying investors of the Maxim Fund following legal proceedings brought by the SFC under section 213 of the Securities and Futures Ordinance.
After the Original Cut-off Date, the SFC continued to receive enquiries from investors who made claims for the very first time. In light of these enquiries, the SFC made an application to the Court to extend the cut-off date for investors to make claims after considering and balancing the interests of all stakeholders concerned.
Under the latest Court order, investors – who became aware of the Maxim Fund in Hong Kong and had invested in it but have not made a claim to the SFC on or before 23 July 2022 – should make claims and submit details of the relevant investment to the SFC no later than 5:30pm on 30 November 2023 Extended Cut-off Date.
Pursuant to the recent order of the Court, no claim shall be accepted after the Extended Cut-off Date.