RE WU LIANMO

RE WU LIANMO

The debtor's proposal was a future contingent promise unsupported by cash or readily realisable assets and, coupled with his evasive conduct and failure to appear or show funds, no reasonable creditor would have accepted it; therefore a bankruptcy order was properly made.

Citation
[2020] HKCFI 152
Parties
Petitioner: YANG XIN (楊鑫); Debtor: WU LIANMO (吳聯模); Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
25 November 2019
Case Number
HCB5250/2019
Procedural Posture
Bankruptcy Petition / Judgment After Hearing (25 November 2019)
Outcome
Bankruptcy order made against the debtor, Wu Lianmo (吳聯模).
Legal Topics
Bankruptcy Order, Statutory Demand, Settlement Offer, Notice of Intention to Oppose, Service of Documents
Source Language
EN
Bankruptcy Insolvency Civil Procedure Enforcement Bankruptcy Order Statutory Demand Settlement Offer Notice of Intention to Oppose +1 more

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Parties

YANG XIN (楊鑫)

Petitioner

WU LIANMO (吳聯模)

Debtor

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy Petition / Judgment After Hearing (25 November 2019)

Legal Issues

  1. 1 Whether the debtor's settlement proposal required dismissal of the petition
  2. 2 Whether the debtor demonstrated ability to pay from cash or readily realisable assets
  3. 3 Whether the petitioning creditor's refusal of the proposal was unreasonable

Ratio Decidendi

The debtor's proposal was a future contingent promise unsupported by cash or readily realisable assets and, coupled with his evasive conduct and failure to appear or show funds, no reasonable creditor would have accepted it; therefore a bankruptcy order was properly made.

Court Disposition

Bankruptcy order made against the debtor, Wu Lianmo (吳聯模).

Orders

  • Bankruptcy order made against Wu Lianmo (吳聯模) on 25 November 2019