LEE RAYMOND CHO MIN

LEE RAYMOND CHO MIN

The court found multiple instances of unsatisfactory conduct and failure to cooperate which satisfied the statutory grounds under s30A(4) and, on an overall balancing exercise (considering seriousness, prejudice to creditors, and post-bankruptcy conduct), exercised its discretion to suspend the running of the relevant period for automatic discharge: 18 months for Raymond Lee and 15 months for Priscilla Lee commencing 30 August 2013; costs were ordered nisi against the bankrupts.

Citation
LEE RAYMOND CHO MIN
Parties
Bankrupt: Lee Priscilla Hwang; Bankrupt: Lee Raymond Cho-Min; Trustee: John Robert Lees; Trustee: Mat Ng
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
9 May 2014
Case Number
HCB7453/2009
Procedural Posture
Bankruptcy / Summons Under Section 30 A(3) Bankruptcy Ordinance for Suspension of Running of Relevant Period for Automatic Discharge
Outcome
Suspension of running of relevant period for automatic discharge ordered against both bankrupts; costs ordered.
Legal Topics
Suspension of Automatic Discharge (s30 A), Trustee Powers and Turnover, Vesting of Property on Bankruptcy, Avoidance of Post Petition Transactions (s42), Chapter 15 US Recognition and Section 362 Stay, Duty to Cooperate With Trustee, Disclosure Obligations of Bankrupt
Source Language
EN
Bankruptcy Law Insolvency Cross Border Insolvency Civil Procedure Suspension of Automatic Discharge (s30 A) Trustee Powers and Turnover Vesting of Property on Bankruptcy Avoidance of Post Petition Transactions (s42) +3 more

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Parties

Lee Priscilla Hwang

Bankrupt

Lee Raymond Cho-Min

Bankrupt

John Robert Lees

Trustee

Mat Ng

Trustee

Procedural Posture

Bankruptcy / Summons Under Section 30 A(3) Bankruptcy Ordinance for Suspension of Running of Relevant Period for Automatic Discharge

Legal Issues

  1. 1 Whether grounds under section 30A(4) (unsatisfactory conduct and failure to cooperate) are established
  2. 2 Whether the court should exercise its discretion to suspend the running of the relevant period for automatic discharge
  3. 3 Whether US assets and equity interests form part of the Hong Kong bankruptcy estates and must be surrendered to trustees

Ratio Decidendi

The court found multiple instances of unsatisfactory conduct and failure to cooperate which satisfied the statutory grounds under s30A(4) and, on an overall balancing exercise (considering seriousness, prejudice to creditors, and post-bankruptcy conduct), exercised its discretion to suspend the running of the relevant period for automatic discharge: 18 months for Raymond Lee and 15 months for Priscilla Lee commencing 30 August 2013; costs were ordered nisi against the bankrupts.

Court Disposition

Suspension of running of relevant period for automatic discharge ordered against both bankrupts; costs ordered.

Orders

  • Relevant period to cease running for Raymond Lee for 18 months commencing 30 August 2013
  • Relevant period to cease running for Priscilla Lee for 15 months commencing 30 August 2013