RE KWONG HING INTERNATIONAL (HOLDINGS) LTD.

RE KWONG HING INTERNATIONAL (HOLDINGS) LTD.

The petitioner failed to comply with the earlier order to pay security of $350,000 into court within the prescribed period and provided an unsatisfactory and unparticularized explanation for delay; the court therefore granted a final extension of 28 days to pay the sum into court by 4:00 p.m. on 10 December 1999 and ordered that failure to do so will result in the petition being dismissed with costs to the company payable by the petitioner.

Citation
RE KWONG HING INTERNATIONAL (HOLDINGS) LTD.
Parties
Company/respondent: Kwong Hing International (Holdings) Limited
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
12 November 1999
Case Number
HCCW409/1999
Procedural Posture
Companies Winding Up Proceedings / Security for Costs Application; Unless Order Hearing
Outcome
Petition to stand dismissed unless security of $350,000 paid into court by 4:00 p.m. on 10 December 1999; further 28 day extension granted to that deadline
Legal Topics
Security for Costs, Winding Up Petition, Unless Order, Costs
Source Language
EN
Company Law Civil Procedure Security for Costs Winding Up Petition Unless Order Costs

Case Brief

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Parties

Kwong Hing International (Holdings) Limited

Company/respondent

Procedural Posture

Companies Winding Up Proceedings / Security for Costs Application; Unless Order Hearing

Legal Issues

  1. 1 Whether petitioner should be ordered to provide security for costs
  2. 2 Whether failure to comply with an order for security for costs warrants dismissal of the petition
  3. 3 Whether to grant an extension and on what terms

Ratio Decidendi

The petitioner failed to comply with the earlier order to pay security of $350,000 into court within the prescribed period and provided an unsatisfactory and unparticularized explanation for delay; the court therefore granted a final extension of 28 days to pay the sum into court by 4:00 p.m. on 10 December 1999 and ordered that failure to do so will result in the petition being dismissed with costs to the company payable by the petitioner.

Court Disposition

Petition to stand dismissed unless security of $350,000 paid into court by 4:00 p.m. on 10 December 1999; further 28 day extension granted to that deadline

Orders

  • Petitioner to pay security for costs of $350,000 into Court by 4:00 p.m. on Friday 10 December 1999
  • Unless the sum is paid by the deadline the Petition shall stand dismissed