RE WAH FOOK HONG INTERNATIONAL CO LTD (“the Company”)

RE WAH FOOK HONG INTERNATIONAL CO LTD (“the Company”)

Because the company satisfied the burden by showing creditors had been paid, the liquidators and Official Receiver reported no outstanding matters, and the proposed termination would not prejudice creditors or public interest per the Re The Grande Holdings Ltd factors, the court granted a permanent stay and...

Source-derived case information.

Citation
[2020] HKCFI 2362
Parties
Petitioner: Wah Fook Hong International Company Limited; Joint and Several Liquidator: Huen Ho Yin; Joint and Several Liquidator: Huen Yuen Fun; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
4 September 2020
Case Number
HCCW6/2018
Procedural Posture
Companies Winding Up Proceedings / Application for Permanent Stay of Winding Up; Decision on Stay and Discharge of Liquidators
Outcome
Permanent stay of the winding-up granted; liquidators discharged
Legal Topics
Winding Up, Liquidation, Stay of Proceedings, Discharge of Liquidators, Public Interest
Source Language
en
Company Law Insolvency Law Civil Procedure Winding Up Liquidation Stay of Proceedings Discharge of Liquidators Public Interest

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Parties

Wah Fook Hong International Company Limited

Petitioner

Huen Ho Yin

Joint and Several Liquidator

Huen Yuen Fun

Joint and Several Liquidator

Official Receiver

Official Receiver

Procedural Posture

Companies Winding Up Proceedings / Application for Permanent Stay of Winding Up; Decision on Stay and Discharge of Liquidators

Legal Issues

  1. 1 Whether a permanent stay of the winding-up should be granted
  2. 2 Whether the liquidators should be discharged
  3. 3 Whether all creditors and potential liabilities are provided for

Ratio Decidendi

Because the company satisfied the burden by showing creditors had been paid, the liquidators and Official Receiver reported no outstanding matters, and the proposed termination would not prejudice creditors or public interest per the Re The Grande Holdings Ltd factors, the court granted a permanent stay and discharged the liquidators.

Court Disposition

Permanent stay of the winding-up granted; liquidators discharged

Orders

  • Permanent stay of the winding-up of Wah Fook Hong International Company Limited granted
  • Liquidators Huen Ho Yin and Huen Yuen Fun discharged forthwith