RE CDCP INTERNATIONAL LIMITED

RE CDCP INTERNATIONAL LIMITED

The company did not dispute liability only the quantum; there was no bona fide substantial dispute as to liability, the affirmation was validly made by an authorised officer, and there was no evidence of receiver misconduct or substantial undervalue — therefore a compulsory winding-up order was appropriate and must be granted.

Citation
RE CDCP INTERNATIONAL LIMITED
Parties
Petitioner: Asian Hardwood Limited; Company: CDCP International Limited; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
10 April 1987
Case Number
HCA390/1986
Procedural Posture
Winding Up Petition (companies Ordinance) / Judgment on Petition (application for Compulsory Winding Up)
Outcome
Winding-up order granted (compulsory)
Legal Topics
Winding Up, Statutory Demand, Debt Dispute (quantum), Receiver Duties, Affirmation Verification
Source Language
EN
Company Law Insolvency Receivership Winding Up Statutory Demand Debt Dispute (quantum) Receiver Duties Affirmation Verification

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Parties

Asian Hardwood Limited

Petitioner

CDCP International Limited

Company

Official Receiver

Official Receiver

Procedural Posture

Winding Up Petition (companies Ordinance) / Judgment on Petition (application for Compulsory Winding Up)

Legal Issues

  1. 1 Whether the statutory demand and assignment created an undisputed debt sufficient for a winding-up order
  2. 2 Whether the affirmation verifying the petition was validly made by an authorised deponent
  3. 3 Whether there was a bona fide substantial dispute as to liability or only a dispute as to quantum

Ratio Decidendi

The company did not dispute liability only the quantum; there was no bona fide substantial dispute as to liability, the affirmation was validly made by an authorised officer, and there was no evidence of receiver misconduct or substantial undervalue — therefore a compulsory winding-up order was appropriate and must be granted.

Court Disposition

Winding-up order granted (compulsory)

Orders

  • Make compulsory winding-up order against CDCP International Limited
  • Costs awarded to petitioner Asian Hardwood Limited