RE CB-MEDIA LTD.

RE CB-MEDIA LTD.

Where a company admits a judgment debt, has no assets, fails to file an affidavit in opposition despite leave and its solicitors withdraw objection, the court will make a winding-up order; a stale or unsubstantiated investor offer and request for adjournment do not prevent the order.

Citation
RE CB-MEDIA LTD.
Parties
Petitioner (creditor): Petitioner (unnamed in record); Company / Respondent: CB-Media Limited; Office of the Official Receiver (intervenor): Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
9 July 2001
Case Number
HCCW414/2001
Procedural Posture
Companies Winding Up Petition / Hearing of Petition and Making of Winding Up Order
Outcome
Winding-up order made against CB-Media Limited
Legal Topics
Winding Up, Statutory Demand, Judgment Debt, Adjournment, Official Receiver Involvement
Source Language
EN
Company Law Insolvency Law Winding Up Statutory Demand Judgment Debt Adjournment Official Receiver Involvement

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Parties

Petitioner (unnamed in record)

Petitioner (creditor)

CB-Media Limited

Company / Respondent

Official Receiver

Office of the Official Receiver (intervenor)

Procedural Posture

Companies Winding Up Petition / Hearing of Petition and Making of Winding Up Order

Legal Issues

  1. 1 Whether CB-Media Limited is unable to pay its debts and should be wound up
  2. 2 Whether the company’s request for adjournment to seek investors justified refusing the petition
  3. 3 Whether absence of affidavit or opposition warrants making the winding-up order

Ratio Decidendi

Where a company admits a judgment debt, has no assets, fails to file an affidavit in opposition despite leave and its solicitors withdraw objection, the court will make a winding-up order; a stale or unsubstantiated investor offer and request for adjournment do not prevent the order.

Court Disposition

Winding-up order made against CB-Media Limited

Orders

  • Winding-up order made under the Companies Ordinance against CB-Media Limited
  • Leave previously given to the company to file an affidavit expiring without filing