Re Alantic Import and Export Ltd.

Re Alantic Import and Export Ltd.

Petitioner established a judgment debt, validly served a demand, and the Company did not contest the petition at the hearing; accordingly the court ordered the Company to be wound up and directed that the petitioner's costs be paid from the Company's assets.

Source-derived case information.

Citation
Re Alantic Import and Export Ltd.
Parties
Petitioner (creditor): International Bank of Asia Limited; Company (respondent): Alantic Import and Export Limited; Official Receiver (intervener): Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
23 September 2002
Case Number
HCCW527/2002
Procedural Posture
Winding Up Petition (companies Ordinance, Cap. 32) / Order Made at Hearing (winding Up Order)
Outcome
Winding-up order made against Alantic Import and Export Limited
Legal Topics
Winding Up, Inability to Pay Debts, Judgment Debt, Service of Demand, Costs
Source Language
en
Company Law Insolvency Law Banking Law Winding Up Inability to Pay Debts Judgment Debt Service of Demand Costs

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Parties

International Bank of Asia Limited

Petitioner (creditor)

Alantic Import and Export Limited

Company (respondent)

Official Receiver

Official Receiver (intervener)

Procedural Posture

Winding Up Petition (companies Ordinance, Cap. 32) / Order Made at Hearing (winding Up Order)

Legal Issues

  1. 1 Whether the company is unable to pay its debts
  2. 2 Whether the petition was properly served and constituted a proper basis for winding-up
  3. 3 Whether a winding-up order should be made and costs ordered against the company

Ratio Decidendi

Petitioner established a judgment debt, validly served a demand, and the Company did not contest the petition at the hearing; accordingly the court ordered the Company to be wound up and directed that the petitioner's costs be paid from the Company's assets.

Court Disposition

Winding-up order made against Alantic Import and Export Limited

Orders

  • Order that Alantic Import and Export Limited be wound up
  • Petitioner’s costs to be paid out of the Company’s assets