Re: WONG WING KWONG and BANK OF CHINA (HONG KONG) LTD

Re: WONG WING KWONG and BANK OF CHINA (HONG KONG) LTD

The court held that the debtors had no reasonable grounds to set aside the judgments because the alleged oral compromises lacked consideration and did not affect the validity of duly obtained judgments and properly served statutory demands; accordingly bankruptcy orders were appropriate.

Citation
Re: WONG WING KWONG and BANK OF CHINA (HONG KONG) LTD
Parties
Petitioner/creditor: Bank of China (Hong Kong) Limited; Debtor: Wong Wing Kwong; Debtor: Yeung Kin; Debtor: Lam Ying Kin; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
26 November 2001
Case Number
HCB6125/2001
Procedural Posture
Bankruptcy Proceedings / Hearing and Judgment (court of First Instance)
Outcome
Bankruptcy orders made against each debtor with costs awarded to the petitioner.
Legal Topics
Bankruptcy Petition, Statutory Demand, Setting Aside Judgment, Summary Judgment, Deeds of Guarantee, Substituted Service
Source Language
EN
Bankruptcy Civil Procedure Contract Guarantee Bankruptcy Petition Statutory Demand Setting Aside Judgment Summary Judgment Deeds of Guarantee +1 more

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Parties

Bank of China (Hong Kong) Limited

Petitioner/creditor

Wong Wing Kwong

Debtor

Yeung Kin

Debtor

Lam Ying Kin

Debtor

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy Proceedings / Hearing and Judgment (court of First Instance)

Legal Issues

  1. 1 Whether judgments obtained against the debtors could be set aside
  2. 2 Whether an alleged oral agreement to accept instalment payments constituted a defence or ground to set aside judgment
  3. 3 Whether statutory demands and substituted service were properly effected

Ratio Decidendi

The court held that the debtors had no reasonable grounds to set aside the judgments because the alleged oral compromises lacked consideration and did not affect the validity of duly obtained judgments and properly served statutory demands; accordingly bankruptcy orders were appropriate.

Court Disposition

Bankruptcy orders made against each debtor with costs awarded to the petitioner.

Orders

  • Bankruptcy order against Wong Wing Kwong
  • Bankruptcy order against Yeung Kin