Re: YEUNG KIN and BANK OF CHINA (HONG KONG) LTD

Re: YEUNG KIN and BANK OF CHINA (HONG KONG) LTD

The court found no adequate evidence or consideration supporting the alleged oral agreements, the judgments and statutory demands had been validly served, and there were no reasonable grounds to set aside the judgments; accordingly bankruptcy orders were appropriate against each debtor with costs to the petitioner.

Citation
Re: YEUNG KIN and BANK OF CHINA (HONG KONG) LTD
Parties
Creditor: Bank of China (Hong Kong) Limited; Debtor: WONG WING KWONG; Debtor: YEUNG KIN; Debtor: LAM YING KIN; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
26 November 2001
Case Number
HCB6126/2001
Procedural Posture
Bankruptcy Proceedings (court of First Instance) / Hearing on Bankruptcy Petitions and Judgment (petition Heard Together)
Outcome
Bankruptcy orders made against each of the three debtors
Legal Topics
Statutory Demand, Bankruptcy Petition, Summary Judgment, Service of Process, Variation of Judgment by Agreement, Deeds of Guarantee
Source Language
EN
Bankruptcy Insolvency Contract Civil Procedure Statutory Demand Bankruptcy Petition Summary Judgment Service of Process +2 more

Case Brief

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Parties

Bank of China (Hong Kong) Limited

Creditor

WONG WING KWONG

Debtor

YEUNG KIN

Debtor

LAM YING KIN

Debtor

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy Proceedings (court of First Instance) / Hearing on Bankruptcy Petitions and Judgment (petition Heard Together)

Legal Issues

  1. 1 Whether the judgment debts could be set aside
  2. 2 Whether an oral agreement to vary payment terms bound the creditor
  3. 3 Whether sufficient consideration and evidence existed for the alleged compromise

Ratio Decidendi

The court found no adequate evidence or consideration supporting the alleged oral agreements, the judgments and statutory demands had been validly served, and there were no reasonable grounds to set aside the judgments; accordingly bankruptcy orders were appropriate against each debtor with costs to the petitioner.

Court Disposition

Bankruptcy orders made against each of the three debtors

Orders

  • Bankruptcy order made against WONG WING KWONG with costs to the petitioner
  • Bankruptcy order made against YEUNG KIN with costs to the petitioner