RE 1,2,3, PRINTING SERVICES LTD

RE 1,2,3, PRINTING SERVICES LTD

The court found on the evidence that the Company could not pay its debts — judgments were unsatisfied, execution and garnishee proceedings produced insufficient funds, the value of goods available under lien was inadequate, and the Company filed no evidence or effective defence — and therefore a winding‑up order was warranted.

Citation
RE 1,2,3, PRINTING SERVICES LTD
Parties
Petitioner: Man Sang Envelope Manufacturing Company Limited; Respondent (company): 1,2,3, Printing Services Limited; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
13 September 2004
Case Number
HCCW841/2004
Procedural Posture
Companies (winding Up) Petition Under Companies Ordinance, Chapter 32 / Winding Up Petition Heard; Winding Up Order Made
Outcome
Winding-up order made against 1,2,3, Printing Services Limited
Legal Topics
Winding Up, Judgment Debts, Execution, Garnishee Proceedings, Unpaid Seller's Lien, Inability to Pay Debts
Source Language
EN
Company Law Insolvency Civil Procedure Winding Up Judgment Debts Execution Garnishee Proceedings Unpaid Seller's Lien +1 more

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Parties

Man Sang Envelope Manufacturing Company Limited

Petitioner

1,2,3, Printing Services Limited

Respondent (company)

Official Receiver

Official Receiver

Procedural Posture

Companies (winding Up) Petition Under Companies Ordinance, Chapter 32 / Winding Up Petition Heard; Winding Up Order Made

Legal Issues

  1. 1 Whether the Company is unable to pay its debts
  2. 2 Whether unsatisfied judgment debts and failed execution justify a winding-up order
  3. 3 Whether absence of opposition or evidence from the Company permits making a winding-up order

Ratio Decidendi

The court found on the evidence that the Company could not pay its debts — judgments were unsatisfied, execution and garnishee proceedings produced insufficient funds, the value of goods available under lien was inadequate, and the Company filed no evidence or effective defence — and therefore a winding‑up order was warranted.

Court Disposition

Winding-up order made against 1,2,3, Printing Services Limited

Orders

  • Winding-up order made against 1,2,3, Printing Services Limited
  • Petitioner's costs to be paid out of the Company's assets