RE: YUEN YUI HING and EX PARTE: ALLIED CAPITAL RESOURCES LTD., a Creditor

RE: YUEN YUI HING and EX PARTE: ALLIED CAPITAL RESOURCES LTD., a Creditor

Debtor failed to show prima facie grounds of appeal with reasonable prospects: the instalment agreement was made before the default judgment so O.45 r.11 could not support a stay; evidence showed default on instalments (including reduced payments); promissory estoppel did not prevent the petitioner from resiling and no credible new basis for appeal or setting aside the judgment was presented; therefore a bankruptcy order with costs was correctly made.

Citation
RE: YUEN YUI HING and EX PARTE: ALLIED CAPITAL RESOURCES LTD., a Creditor
Parties
Creditor / Petitioner: Allied Capital Resources Limited; Debtor / Respondent: Yuen Yui Hing aka Yuen Yui Hing Jackson; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
6 August 2001
Case Number
HCB4033/2000
Procedural Posture
Bankruptcy Petition (based on Judgment Debt) / Hearing Concluded; Bankruptcy Order Made
Outcome
Bankruptcy order made against Yuen Yui Hing; costs awarded to petitioner Allied Capital Resources Limited
Legal Topics
Statutory Demand, Bankruptcy Order, Substituted Service, Promissory Estoppel, Stay of Execution, Default Judgment, Appeal
Source Language
EN
Bankruptcy Insolvency Civil Procedure Contract Law Equity Statutory Demand Bankruptcy Order Substituted Service +4 more

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Parties

Allied Capital Resources Limited

Creditor / Petitioner

Yuen Yui Hing aka Yuen Yui Hing Jackson

Debtor / Respondent

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy Petition (based on Judgment Debt) / Hearing Concluded; Bankruptcy Order Made

Legal Issues

  1. 1 Whether the debtor established prima facie grounds of appeal with reasonable prospects of success to justify adjourning the bankruptcy petition
  2. 2 Whether the instalment agreement was made before the default judgment and thus outside O.45 r.11 jurisdiction for stay of execution
  3. 3 Whether the debtor had in fact defaulted on instalment payments

Ratio Decidendi

Debtor failed to show prima facie grounds of appeal with reasonable prospects: the instalment agreement was made before the default judgment so O.45 r.11 could not support a stay; evidence showed default on instalments (including reduced payments); promissory estoppel did not prevent the petitioner from resiling and no credible new basis for appeal or setting aside the judgment was presented; therefore a bankruptcy order with costs was correctly made.

Court Disposition

Bankruptcy order made against Yuen Yui Hing; costs awarded to petitioner Allied Capital Resources Limited

Orders

  • Bankruptcy order made against Yuen Yui Hing
  • Costs awarded to Allied Capital Resources Limited