RE WILMORE MANUFACTURING LTD

RE WILMORE MANUFACTURING LTD

Because the petitioning debt was undisputed and the Company was apparently unable to pay its debts, and no substantiating evidence or validation application under section 182 was produced, the court was obliged to make a winding-up order against the Company.

Citation
RE WILMORE MANUFACTURING LTD
Parties
Petitioner: Wonderful Light Precision Manufacturer Limited; Company (respondent): Wilmore Manufacturing Limited; Interested Party: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
20 September 2004
Case Number
HCCW566/2004
Procedural Posture
Winding Up Petition / Judgment/order Made at Hearing
Outcome
Winding-up order made against Wilmore Manufacturing Limited
Legal Topics
Winding Up, Debt Recovery, Validation Order Under S.182
Source Language
EN
Company Law Insolvency Winding Up Debt Recovery Validation Order Under S.182

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Parties

Wonderful Light Precision Manufacturer Limited

Petitioner

Wilmore Manufacturing Limited

Company (respondent)

Official Receiver

Interested Party

Procedural Posture

Winding Up Petition / Judgment/order Made at Hearing

Legal Issues

  1. 1 Whether a winding-up order should be made against the Company
  2. 2 Whether the Company is solvent
  3. 3 Whether a validation order under section 182 should be considered without evidence of solvency and arm's length sale at market value

Ratio Decidendi

Because the petitioning debt was undisputed and the Company was apparently unable to pay its debts, and no substantiating evidence or validation application under section 182 was produced, the court was obliged to make a winding-up order against the Company.

Court Disposition

Winding-up order made against Wilmore Manufacturing Limited

Orders

  • Winding-up order made against Wilmore Manufacturing Limited
  • Petitioner’s costs to be paid out of the Company’s assets