In re East Eagle International Ltd.

In re East Eagle International Ltd.

Because the petitioner held an outstanding unpaid final judgment against the Company, and the Company withdrew its application to set aside that judgment and did not oppose the petition, the court exercised its discretion to grant a winding-up order.

Source-derived case information.

Citation
In re East Eagle International Ltd.
Parties
Petitioner: Wealthiest Company Limited; Company: East Eagle International Limited; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
30 December 1998
Case Number
HCCW831/1998
Procedural Posture
Companies Winding Up / Judgment on Winding Up Petition
Outcome
Winding-up order granted against East Eagle International Limited
Legal Topics
Winding Up, Inability to Pay Debts, Default Judgment, Setting Aside Judgment, Stay of Execution
Source Language
en
Company Law Insolvency Law Civil Procedure Winding Up Inability to Pay Debts Default Judgment Setting Aside Judgment Stay of Execution

Source-derived case record

Summary, issues, holding and outcome

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Parties

Wealthiest Company Limited

Petitioner

East Eagle International Limited

Company

Official Receiver

Official Receiver

Procedural Posture

Companies Winding Up / Judgment on Winding Up Petition

Legal Issues

  1. 1 Whether the Company is unable to pay its debts and liable to be wound up
  2. 2 Whether the default judgment against the Company should be set aside
  3. 3 Whether the court should exercise its discretion to wind up where judgment remains outstanding and unpaid

Ratio Decidendi

Because the petitioner held an outstanding unpaid final judgment against the Company, and the Company withdrew its application to set aside that judgment and did not oppose the petition, the court exercised its discretion to grant a winding-up order.

Court Disposition

Winding-up order granted against East Eagle International Limited

Orders

  • The Companys application to set aside the default judgment is dismissed with costs.
  • Order that East Eagle International Limited be wound up.