MARC DRANSENE CONCEPTION AND ANOTHER v. CNG LTD AND ANOTHER

MARC DRANSENE CONCEPTION AND ANOTHER v. CNG LTD AND ANOTHER

The petitioners established that the Company was unable to pay its debts (unpaid director salary of $53,000, accumulated losses of about $3,000,000, frozen bank account, employee arrears of at least $170,000) and the respondents filed no evidence to dispute these facts; accordingly the court ordered the winding up under s177(1)(d).

Citation
MARC DRANSENE CONCEPTION AND ANOTHER v. CNG LTD AND ANOTHER
Parties
1st Petitioner: Marc Dransene Conception; 2nd Petitioner: Fan Chung Pui; 1st Respondent: CNG Limited; 2nd Respondent: Lim Poh Suan
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
22 January 2007
Case Number
HCCW357/2006
Procedural Posture
Companies (winding Up) Petition Under Companies Ordinance S177(1)(d) / Judgment (winding Up Order Made 22 January 2007)
Outcome
Winding-up order made against CNG Limited
Legal Topics
Winding Up, Insolvency Under S177(1)(d), Unpaid Wages, Security for Costs, Costs Orders
Source Language
EN
Corporate Law Insolvency Employment Law Civil Procedure Winding Up Insolvency Under S177(1)(d) Unpaid Wages Security for Costs +1 more

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Parties

Marc Dransene Conception

1st Petitioner

Fan Chung Pui

2nd Petitioner

CNG Limited

1st Respondent

Lim Poh Suan

2nd Respondent

Procedural Posture

Companies (winding Up) Petition Under Companies Ordinance S177(1)(d) / Judgment (winding Up Order Made 22 January 2007)

Legal Issues

  1. 1 Whether the Company was insolvent under s177(1)(d) of the Companies Ordinance
  2. 2 Whether unpaid sums to the 2nd petitioner and employees were established
  3. 3 Whether the 2nd respondent was entitled to security for costs

Ratio Decidendi

The petitioners established that the Company was unable to pay its debts (unpaid director salary of $53,000, accumulated losses of about $3,000,000, frozen bank account, employee arrears of at least $170,000) and the respondents filed no evidence to dispute these facts; accordingly the court ordered the winding up under s177(1)(d).

Court Disposition

Winding-up order made against CNG Limited

Orders

  • Winding-up order made against CNG Limited
  • Summons of the 2nd respondent for security for costs dismissed