RE HUA HAN HEALTH INDUSTRY HOLDINGS LTD

RE HUA HAN HEALTH INDUSTRY HOLDINGS LTD

The court made the winding-up order because the provisional liquidators' report and lack of credible restructuring proposals or supporting appearances meant there was no justification to adjourn; therefore the petitioner's request for a winding-up order was granted.

Source-derived case information.

Citation
[2020] HKCFI 430
Parties
Company/respondent: Hua Han Health Industry Holdings Limited; Provisional Liquidators: Provisional Liquidators; Contributory: K T Lo & Co; Supporting Creditor: Supporting creditor; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
2 December 2019
Case Number
HCCW110/2019
Procedural Posture
Companies Winding Up Petition / Decision Hearing and Order Made
Outcome
Winding-up order made
Legal Topics
Winding Up Order, Provisional Liquidators, Adjournment for Restructuring
Source Language
en
Company Law Insolvency Law Liquidation Winding Up Order Provisional Liquidators Adjournment for Restructuring

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Summary, issues, holding and outcome

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Parties

Hua Han Health Industry Holdings Limited

Company/respondent

Provisional Liquidators

Provisional Liquidators

K T Lo & Co

Contributory

Supporting creditor

Supporting Creditor

Official Receiver

Official Receiver

Procedural Posture

Companies Winding Up Petition / Decision Hearing and Order Made

Legal Issues

  1. 1 Whether to grant a winding-up order
  2. 2 Whether to adjourn the petition to permit a restructuring proposal
  3. 3 Whether the provisional liquidators' proposal and supporting creditor representations justified adjournment

Ratio Decidendi

The court made the winding-up order because the provisional liquidators' report and lack of credible restructuring proposals or supporting appearances meant there was no justification to adjourn; therefore the petitioner's request for a winding-up order was granted.

Court Disposition

Winding-up order made

Orders

  • Make the normal winding-up order