RE ALEX SO YAT SANG

RE ALEX SO YAT SANG

The petition was dismissed because the court accepted the debtor's credible evidence that he lacked assets sufficient to produce a 15% dividend, the Official Receiver did not support the application, and an investigation by the Official Receiver would not serve a useful purpose.

Citation
RE ALEX SO YAT SANG
Parties
Petitioner: Brinbton Land Investment Limited; Debtor: Alex So Yat Sang; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
4 May 1984
Case Number
HCB238/1983
Procedural Posture
Bankruptcy / Hearing on Bankruptcy Petition (application for Receiving Order); Judgment Delivered
Outcome
Bankruptcy petition dismissed
Legal Topics
Receiving Order, Bankruptcy Petition, Bankruptcy Notice, Dividend Threshold, Official Receiver Discretion
Source Language
EN
Bankruptcy Insolvency Civil Procedure Receiving Order Bankruptcy Petition Bankruptcy Notice Dividend Threshold Official Receiver Discretion

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Parties

Brinbton Land Investment Limited

Petitioner

Alex So Yat Sang

Debtor

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy / Hearing on Bankruptcy Petition (application for Receiving Order); Judgment Delivered

Legal Issues

  1. 1 Whether to make a receiving order under Section 9(3) of the Bankruptcy Ordinance
  2. 2 Whether the debtor possessed assets sufficient to pay a 15% dividend
  3. 3 Whether an investigation by the Official Receiver would serve a useful purpose

Ratio Decidendi

The petition was dismissed because the court accepted the debtor's credible evidence that he lacked assets sufficient to produce a 15% dividend, the Official Receiver did not support the application, and an investigation by the Official Receiver would not serve a useful purpose.

Court Disposition

Bankruptcy petition dismissed

Orders

  • Petition dismissed
  • No order as to costs