RE TANG WAI KUEN

RE TANG WAI KUEN

The petitions were allowed and usual bankruptcy orders were made because the debt was undisputed, the debtors produced no evidence to support their valuation or a genuine sale, the alleged purchaser had not signed any agreement, the substituted service order remained unchallenged, and the adjournment application was a tactical delay without merit.

Citation
RE TANG WAI KUEN
Parties
Judgment Creditor: BANK OF CHINA (HONG KONG) LIMITED; Judgment Debtor: TANG WAI KUEN
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
21 May 2004
Case Number
HCB940/2004
Procedural Posture
Bankruptcy Proceedings / Judgment (reasons for Judgment)
Outcome
Petitions allowed and usual bankruptcy orders made in favor of the petitioner
Legal Topics
Statutory Demand, Substituted Service, Valuation of Security, Adjournment, Bankruptcy Orders, Supporting Affidavit
Source Language
EN
Insolvency Civil Procedure Bankruptcy Statutory Demand Substituted Service Valuation of Security Adjournment Bankruptcy Orders +1 more

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Parties

BANK OF CHINA (HONG KONG) LIMITED

Judgment Creditor

TANG WAI KUEN

Judgment Debtor

Procedural Posture

Bankruptcy Proceedings / Judgment (reasons for Judgment)

Legal Issues

  1. 1 Whether petitions based on unsecured part of judgment debt should be allowed where value of security is disputed
  2. 2 Whether an alleged willing purchaser's offer prevents bankruptcy orders in absence of signed agreement
  3. 3 Whether substituted service of statutory demand was valid

Ratio Decidendi

The petitions were allowed and usual bankruptcy orders were made because the debt was undisputed, the debtors produced no evidence to support their valuation or a genuine sale, the alleged purchaser had not signed any agreement, the substituted service order remained unchallenged, and the adjournment application was a tactical delay without merit.

Court Disposition

Petitions allowed and usual bankruptcy orders made in favor of the petitioner

Orders

  • Bankruptcy orders made as sought
  • Costs awarded to the petitioner