RE ELEGANT ENTERPRISES LTD

RE ELEGANT ENTERPRISES LTD

Because the Company admitted the debt and its insolvency, the petitioner's debt was undisputed and there was no opposition or defense filed, the court granted the winding-up order against Elegant Enterprises Limited.

Citation
RE ELEGANT ENTERPRISES LTD
Parties
Petitioner and Creditor: Yoshimi Saito; Company (respondent): Elegant Enterprises Limited
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
18 December 2006
Case Number
HCCW495/2006
Procedural Posture
Companies (winding Up) Under Companies Ordinance Cap.32 / Judgment and Winding Up Order Made on Petition
Outcome
Petition to wind up Elegant Enterprises Limited granted
Legal Topics
Winding Up, Debt Recovery, Director's Remuneration, Jurisdictional Effect of Foreign Bankruptcy
Source Language
EN
Company Law Insolvency Law Bankruptcy Winding Up Debt Recovery Director's Remuneration Jurisdictional Effect of Foreign Bankruptcy

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Parties

Yoshimi Saito

Petitioner and Creditor

Elegant Enterprises Limited

Company (respondent)

Procedural Posture

Companies (winding Up) Under Companies Ordinance Cap.32 / Judgment and Winding Up Order Made on Petition

Legal Issues

  1. 1 Whether a winding-up order should be made given the company's admitted insolvency and undisputed debt
  2. 2 Whether the petition is barred by the petitioner's bankruptcy in Japan

Ratio Decidendi

Because the Company admitted the debt and its insolvency, the petitioner's debt was undisputed and there was no opposition or defense filed, the court granted the winding-up order against Elegant Enterprises Limited.

Court Disposition

Petition to wind up Elegant Enterprises Limited granted

Orders

  • Elegant Enterprises Limited be wound up pursuant to the Companies Ordinance, Cap.32
  • The petitioner’s costs to be paid out of the assets of the Company