RE VICTORIA GARMENT MANUFACTURING CO LTD

RE VICTORIA GARMENT MANUFACTURING CO LTD

Given credible evidence that Mr Nedderman has departed Hong Kong and failed to make arrangements to continue the operation of his office thereby prejudicing creditors, the court exercised its wide discretion under s.196(1) to remove him and his co-liquidators, to disallow his fees for failure to carry out the office properly, to appoint competent replacement provisional liquidators/liquidators and to order delivery up of books and specified procedures for disbursements and costs.

Citation
RE VICTORIA GARMENT MANUFACTURING CO LTD
Parties
Applicant / Official Receiver: Official Receiver; Provisional Liquidator / Liquidator (absent): Mr Anthony Nedderman; Firm of Liquidators: Tony Nedderman & Co Ltd; Liquidator (present in Specified Matters): Mr Chin Kin-wah; Liquidator (present in Specified Matters): Mr Yeung Alstone Yuk-man; Provisional Liquidator / Liquidator (various Cases) (absent): Ms Yan Miu-ping; Appointed Replacement Joint and Several Provisional Liquidators / Liquidators: BDO Limited; Appointed Joint and Several Provisional Liquidator / Liquidator (bdo Limited): Mr Kong Chi hau Johnson; Appointed Joint and Several Provisional Liquidator / Liquidator (bdo Limited): Mr Lo Siu kei; Companies in Liquidation / Subjects of the 61 Winding Up Proceedings: Multiple companies (61 listed in schedule)
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
27 July 2010
Case Number
HCCW758/2005
Procedural Posture
Companies (winding Up) Applications Under the Companies Ordinance / Decision (hearing in Chambers)
Outcome
Applications granted in full for all 61 matters
Legal Topics
Removal of Liquidator, Provisional Liquidators, Disallowance of Liquidator Fees, Appointment of Replacement Liquidators, Delivery Up of Books and Documents, Costs
Source Language
EN
Company Law Insolvency Civil Procedure Removal of Liquidator Provisional Liquidators Disallowance of Liquidator Fees Appointment of Replacement Liquidators Delivery Up of Books and Documents +1 more

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Parties

Official Receiver

Applicant / Official Receiver

Mr Anthony Nedderman

Provisional Liquidator / Liquidator (absent)

Tony Nedderman & Co Ltd

Firm of Liquidators

Mr Chin Kin-wah

Liquidator (present in Specified Matters)

Mr Yeung Alstone Yuk-man

Liquidator (present in Specified Matters)

Ms Yan Miu-ping

Provisional Liquidator / Liquidator (various Cases) (absent)

BDO Limited

Appointed Replacement Joint and Several Provisional Liquidators / Liquidators

Mr Kong Chi hau Johnson

Appointed Joint and Several Provisional Liquidator / Liquidator (bdo Limited)

Mr Lo Siu kei

Appointed Joint and Several Provisional Liquidator / Liquidator (bdo Limited)

Multiple companies (61 listed in schedule)

Companies in Liquidation / Subjects of the 61 Winding Up Proceedings

Procedural Posture

Companies (winding Up) Applications Under the Companies Ordinance / Decision (hearing in Chambers)

Legal Issues

  1. 1 Whether cause shown under s.196(1) Companies Ordinance to remove provisional liquidator/liquidator
  2. 2 Whether disappearance/abandonment and failure to operate justify removal absent misconduct
  3. 3 Whether liquidator's fees should be disallowed

Ratio Decidendi

Given credible evidence that Mr Nedderman has departed Hong Kong and failed to make arrangements to continue the operation of his office thereby prejudicing creditors, the court exercised its wide discretion under s.196(1) to remove him and his co-liquidators, to disallow his fees for failure to carry out the office properly, to appoint competent replacement provisional liquidators/liquidators and to order delivery up of books and specified procedures for disbursements and costs.

Court Disposition

Applications granted in full for all 61 matters

Orders

  • Mr Anthony Nedderman and, where applicable, his co-liquidators removed as provisional liquidators/liquidators of the subject companies pursuant to ss.194 and 196 of the Companies Ordinance
  • The liquidators' fees in each case are disallowed