| Hong Kong banks can begin repossession proceedings if a mortgagee fails to make loan repayments for three consecutive months. |
| What you are telling us is the relationship between the lessor and the lessee and mortgagee. |
| If the mortgagor is himself a leaseholder then the mortgagee becomes a sub-lessee. |
| The assets are mortgaged in such a way that the mortgagor can deal with them without the concurrence of the mortgagee. |
| Usually, therefore, the second mortgagee persuades the first mortgagee to obtain repayment on the same occasion. |
| He was not successful in doing so before part of the property was sold and the other section foreclosed by the mortgagee. |
