Who here has a safe deposit box?

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What would you say if there was a incident where you held your collection in your safe deposit box........ and the bank accidentally threw it away? That's what happened yesterday at a bank in Hong Kong where, 83 boxes that contained currency collections, title deeds, heirlooms, jewellery was sent to a scrapyard and destroyed. There were 900 boxes marked for destruction as the bank was renovating, but the company threw the boxes away even under supervision of the bank.

YEOUCH!!!!  That bank is going to be in trouble.

The Mei Foo branch of DBS Bank in Kowloon was met with tons of angry customers today, with bright red faces, who lost wedding rings, heirlooms that cannot be replaced, and so on. The government is watching the incident closely, and makes sure everyone gets compensated. Almost HK$30,000,000 (Canadian $5,000,000) was lost in the incident, the point was, many priceless items were lost. Bank officials tried to go through the mangled scraps of metal, and found some mangled banknotes, title deeds, and rings.

CNN reports this today at:
http://edition.cnn.com/2004/WORLD/asiapcf/10/06/deposit.boxes.ap/index.html

As a Singaporean ( DBS Bank belong to Singapore ), I was quite shocked and sad to hear about what happen to the safe boxes in a DBS Bank in HK. I believe proper procedure was not carry out accordingly. Such cases are extremely rare.  It's unfortunate.