NICK L. HEMANDAS alias NARAIN LOKUMAL SUJANANI v. BANK OF CREDIT AND COMMERCE (HONG KONG) LIMITED

NICK L. HEMANDAS alias NARAIN LOKUMAL SUJANANI v. BANK OF CREDIT AND COMMERCE (HONG KONG) LIMITED

Debtor failed to discharge the burden of proof that assets were insufficient to yield a 15% dividend; his evidence was unsatisfactory and materially incomplete (notably non-disclosure of Hawaii property); therefore the court exercised its discretion to grant a Receiving Order and costs to the petitioner.

Citation
NICK L. HEMANDAS alias NARAIN LOKUMAL SUJANANI v. BANK OF CREDIT AND COMMERCE (HONG KONG) LIMITED
Parties
Petitioner/creditor: Bank of Credit and Commerce (Hong Kong) Limited formerly known as Hong Kong Metropolitan Bank Limited; Debtor: Nick L. Hemandas alias Narain Lokumal Sujanani; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
2 July 1985
Case Number
HCB201/1985
Procedural Posture
Bankruptcy / Application for Receiving Order; Judgment Following Hearing
Outcome
Receiving Order granted
Legal Topics
Receiving Order, Bankruptcy Notice, 15% Provision (s.9(3) Bankruptcy Ordinance), Disclosure of Assets, Burden of Proof
Source Language
EN
Bankruptcy Insolvency Civil Procedure Receiving Order Bankruptcy Notice 15% Provision (s.9(3) Bankruptcy Ordinance) Disclosure of Assets Burden of Proof

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Parties

Bank of Credit and Commerce (Hong Kong) Limited formerly known as Hong Kong Metropolitan Bank Limited

Petitioner/creditor

Nick L. Hemandas alias Narain Lokumal Sujanani

Debtor

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy / Application for Receiving Order; Judgment Following Hearing

Legal Issues

  1. 1 Whether debtor's assets are insufficient to produce a 15% dividend under s.9(3) Bankruptcy Ordinance
  2. 2 Which party bears the burden of proof for the 15% provision defence
  3. 3 Whether the debtor has failed to disclose material assets (Hawaii property)

Ratio Decidendi

Debtor failed to discharge the burden of proof that assets were insufficient to yield a 15% dividend; his evidence was unsatisfactory and materially incomplete (notably non-disclosure of Hawaii property); therefore the court exercised its discretion to grant a Receiving Order and costs to the petitioner.

Court Disposition

Receiving Order granted

Orders

  • Receiving Order granted
  • Usual order as to costs in favour of the petitioner