RE GUANGZHOU ELECTRONIC LTD

RE GUANGZHOU ELECTRONIC LTD

Because the petitioning debt was undisputed and there was no reasonable prospect of settlement, the court exercised its discretion to refuse an adjournment and made a winding-up order against the Company.

Citation
RE GUANGZHOU ELECTRONIC LTD
Parties
Petitioner: Bank of China (Hong Kong) Limited; Company (respondent): Guangzhou Electronic Limited; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
13 October 2003
Case Number
HCCW861/2003
Procedural Posture
Companies (winding Up) No. 861 of 2003 / Judgment Winding Up Order Made
Outcome
Winding-up order made against Guangzhou Electronic Limited
Legal Topics
Winding Up, Judgment Debt, Adjournment, Costs
Source Language
EN
Company Law Insolvency Civil Procedure Winding Up Judgment Debt Adjournment Costs

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 2 Party arguments 2 Amounts and remedies 2
Sign in to unlock

Parties

Bank of China (Hong Kong) Limited

Petitioner

Guangzhou Electronic Limited

Company (respondent)

Official Receiver

Official Receiver

Procedural Posture

Companies (winding Up) No. 861 of 2003 / Judgment Winding Up Order Made

Legal Issues

  1. 1 Whether to adjourn winding-up petition pending settlement negotiations
  2. 2 Whether a winding-up order should be made where petitioning debt is undisputed

Ratio Decidendi

Because the petitioning debt was undisputed and there was no reasonable prospect of settlement, the court exercised its discretion to refuse an adjournment and made a winding-up order against the Company.

Court Disposition

Winding-up order made against Guangzhou Electronic Limited

Orders

  • Winding-up order made against Guangzhou Electronic Limited
  • Petitioner's costs to be payable out of the Company's assets