Re Choi Yiu Kee Iron Works Ltd.

Re Choi Yiu Kee Iron Works Ltd.

Insufficient credible evidence was presented that the claimed retention monies would be realized in the near term and be available to meet the Labour Tribunal awards and statutory demand; therefore the court concluded the company was unable to pay its debts and made the winding-up order.

Citation
Re Choi Yiu Kee Iron Works Ltd.
Parties
Company/respondent: Choi Yiu Kee Iron Works Limited; Official Receiver: Official Receiver; Supporting Creditor: Lai Chi Wah; Supporting Creditor: Chu Kwai Wing; Supporting Creditor: Lee Wing Keung; Supporting Creditor: Lee Chi Shing; Supporting Creditor: Wong Yat Chiu
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
6 May 2002
Case Number
HCCW96/2002
Procedural Posture
Winding Up Petition (companies) / Judgment Delivered 6 May 2002
Outcome
Winding-up order made against Choi Yiu Kee Iron Works Limited
Legal Topics
Winding Up, Statutory Demand, Labour Tribunal Award, Retention Monies, Adjournment Discretion
Source Language
EN
Company Law Insolvency Employment Law Winding Up Statutory Demand Labour Tribunal Award Retention Monies Adjournment Discretion

Case Brief

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Parties

Choi Yiu Kee Iron Works Limited

Company/respondent

Official Receiver

Official Receiver

Lai Chi Wah

Supporting Creditor

Chu Kwai Wing

Supporting Creditor

Lee Wing Keung

Supporting Creditor

Lee Chi Shing

Supporting Creditor

Wong Yat Chiu

Supporting Creditor

Procedural Posture

Winding Up Petition (companies) / Judgment Delivered 6 May 2002

Legal Issues

  1. 1 Whether the company is unable to pay its debts
  2. 2 Whether the court should exercise its discretion to delay a winding-up order pending receipt of retention monies
  3. 3 Whether retention monies claimed are realistically and imminently recoverable to satisfy creditors

Ratio Decidendi

Insufficient credible evidence was presented that the claimed retention monies would be realized in the near term and be available to meet the Labour Tribunal awards and statutory demand; therefore the court concluded the company was unable to pay its debts and made the winding-up order.

Court Disposition

Winding-up order made against Choi Yiu Kee Iron Works Limited

Orders

  • Winding-up order made against Choi Yiu Kee Iron Works Limited