RE ASSOULINE JACQUES ISAAC

RE ASSOULINE JACQUES ISAAC

The debtor failed to demonstrate a bona fide dispute on substantial grounds and failed to produce credible evidence of repayment prospects; he did not comply with the statutory demand and did not honour his undertaking to pay within the adjournment period; accordingly the petitioning creditor is entitled to a bankruptcy order under the Bankruptcy Ordinance.

Citation
[2023] HKCFI 2269
Parties
Petitioner: Ultimate Top Limited; Debtor: Assouline Jacques Isaac; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
4 September 2023
Case Number
HCB1858/2023
Procedural Posture
Bankruptcy Proceedings / Bankruptcy Order Made
Outcome
Bankruptcy order made against the Debtor
Legal Topics
Statutory Demand, Bankruptcy Petition, Bona Fide Dispute, Adjournment, Set Off, Mesne Profits, Interest
Source Language
EN
Bankruptcy Insolvency Debt Recovery Civil Procedure Statutory Demand Bankruptcy Petition Bona Fide Dispute Adjournment +3 more

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Parties

Ultimate Top Limited

Petitioner

Assouline Jacques Isaac

Debtor

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy Proceedings / Bankruptcy Order Made

Legal Issues

  1. 1 Whether the debtor is unable to pay the debt under the Bankruptcy Ordinance
  2. 2 Whether there is a bona fide dispute on substantial grounds sufficient to oppose a bankruptcy petition
  3. 3 Whether the petition should be adjourned to permit repayment

Ratio Decidendi

The debtor failed to demonstrate a bona fide dispute on substantial grounds and failed to produce credible evidence of repayment prospects; he did not comply with the statutory demand and did not honour his undertaking to pay within the adjournment period; accordingly the petitioning creditor is entitled to a bankruptcy order under the Bankruptcy Ordinance.

Court Disposition

Bankruptcy order made against the Debtor

Orders

  • Bankruptcy order made against Mr Assouline Jacques Isaac