RE LEE KIM HIN CARRYING ON BUSINESS

RE LEE KIM HIN CARRYING ON BUSINESS

Because the debtor admitted the indebtedness, failed to give a full and satisfactory explanation for the monies he was obliged to account for, and given the need for investigation in the public interest, the court exercised its inherent discretion to grant the usual receiving order with costs.

Source-derived case information.

Citation
RE LEE KIM HIN CARRYING ON BUSINESS
Parties
Judgment Creditor: COMMERCIAL UNION ASSURANCE COMPANY PLC; Judgment Debtor: LEE KIM HIN; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
18 November 1985
Case Number
HCB287/1985
Procedural Posture
Bankruptcy / Application for Receiving Order (hearing)
Outcome
Receiving order granted
Legal Topics
Receiving Order, Bankruptcy Notice, Section 9(3) Dividend Threshold, Burden of Proof, Failure to Account, Official Receiver Investigation
Source Language
en
Bankruptcy Insolvency Commercial Law Civil Procedure Receiving Order Bankruptcy Notice Section 9(3) Dividend Threshold Burden of Proof +2 more

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Parties

COMMERCIAL UNION ASSURANCE COMPANY PLC

Judgment Creditor

LEE KIM HIN

Judgment Debtor

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy / Application for Receiving Order (hearing)

Legal Issues

  1. 1 Whether a receiving order should be granted despite debtor's claim of insufficient assets to meet the 15% dividend under section 9(3) of the Bankruptcy Ordinance
  2. 2 Whether the court should exercise its inherent discretion to grant a receiving order in light of the debtor's admissions and unsatisfactory explanations
  3. 3 Whether the matter requires a thorough investigation by the Official Receiver given potential misapplication of client monies

Ratio Decidendi

Because the debtor admitted the indebtedness, failed to give a full and satisfactory explanation for the monies he was obliged to account for, and given the need for investigation in the public interest, the court exercised its inherent discretion to grant the usual receiving order with costs.

Court Disposition

Receiving order granted

Orders

  • Receiving order made
  • Costs awarded to the petitioner