Re Shun Yuen Trading Co. Ltd.

Re Shun Yuen Trading Co. Ltd.

Where a statutory demand remains unsatisfied and the company fails to appear or oppose, the court will make a winding-up order on the ground of inability to pay its debts; accordingly a winding-up order was made and costs ordered to be paid from the company's assets.

Citation
Re Shun Yuen Trading Co. Ltd.
Parties
Petitioner: Bank of China (HK) Limited (formerly Kwang Tung Provincial Bank Limited); Respondent (company): Shun Yuen Trading Company Limited (formerly Fook Man Tours Limited); Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
10 June 2002
Case Number
HCCW201/2002
Procedural Posture
Companies (winding Up) / Hearing and Judgment Winding Up Order Made
Outcome
Winding-up order made against Shun Yuen Trading Company Limited.
Legal Topics
Winding Up, Statutory Demand, Debt Enforcement, Judgment Debt
Source Language
EN
Company Law Insolvency Civil Procedure Winding Up Statutory Demand Debt Enforcement Judgment Debt

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 3 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Parties

Bank of China (HK) Limited (formerly Kwang Tung Provincial Bank Limited)

Petitioner

Shun Yuen Trading Company Limited (formerly Fook Man Tours Limited)

Respondent (company)

Official Receiver

Official Receiver

Procedural Posture

Companies (winding Up) / Hearing and Judgment Winding Up Order Made

Legal Issues

  1. 1 Whether the company is unable to pay its debts
  2. 2 Whether the statutory demand was complied with
  3. 3 Whether a winding-up order should be made

Ratio Decidendi

Where a statutory demand remains unsatisfied and the company fails to appear or oppose, the court will make a winding-up order on the ground of inability to pay its debts; accordingly a winding-up order was made and costs ordered to be paid from the company's assets.

Court Disposition

Winding-up order made against Shun Yuen Trading Company Limited.

Orders

  • Winding-up order made against Shun Yuen Trading Company Limited.
  • Petitioner's costs to be paid out of the assets of the company.