RE TSOI MAN

RE TSOI MAN

The Petition was dismissed because the Petitioner failed to comply with mandatory procedural requirements (no proper verifying affidavit as required by rule 56/Form 11), the statutory demand and petition contained material inconsistencies (notably as to the date of the Guarantee and the agreement relied upon), and there exists an arguable bona fide dispute on substantial grounds whether the Guarantee as drafted covers liabilities under the 2025 Agreement, such that it was inappropriate to make a bankruptcy order.

Citation
[2026] HKCFI 586
Parties
Petitioner: Sun Kong Petroleum Company Limited (新港石油有限公司); Debtor: Tsoi Man (蔡敏); Official Receiver: Official Receiver's Office (Mr Max Chan)
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
26 January 2026
Case Number
HCB5570/2025
Procedural Posture
Bankruptcy Petition / Hearing and Judgment on Opposed Petition
Outcome
Petition dismissed
Legal Topics
Statutory Demand, Personal Guarantee, Bona Fide Dispute, Bankruptcy Rules Compliance
Source Language
EN
Bankruptcy Contract Law Guarantee Law Civil Procedure Statutory Demand Personal Guarantee Bona Fide Dispute Bankruptcy Rules Compliance

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Parties

Sun Kong Petroleum Company Limited (新港石油有限公司)

Petitioner

Tsoi Man (蔡敏)

Debtor

Official Receiver's Office (Mr Max Chan)

Official Receiver

Procedural Posture

Bankruptcy Petition / Hearing and Judgment on Opposed Petition

Legal Issues

  1. 1 Whether the statutory demand and petition complied with the Bankruptcy Rules (including rule 56)
  2. 2 Whether there is a bona fide dispute on substantial grounds in respect of the claimed debt
  3. 3 Whether the personal Guarantee signed by the Debtor covers liabilities under the 2025 supply agreement

Ratio Decidendi

The Petition was dismissed because the Petitioner failed to comply with mandatory procedural requirements (no proper verifying affidavit as required by rule 56/Form 11), the statutory demand and petition contained material inconsistencies (notably as to the date of the Guarantee and the agreement relied upon), and there exists an arguable bona fide dispute on substantial grounds whether the Guarantee as drafted covers liabilities under the 2025 Agreement, such that it was inappropriate to make a bankruptcy order.

Court Disposition

Petition dismissed

Orders

  • The Petition is dismissed.
  • The Petitioner is ordered to pay the costs of and occasioned by the Petition to the Debtor and to the Official Receiver.