Re Trillion Corporation Ltd.

Re Trillion Corporation Ltd.

Where a winding up petition is founded on an undisputed judgment debt and the company does not seek to set aside the judgment, the court will ordinarily make an immediate winding up order and will not grant an adjournment merely because the company contends it can pay later.

Citation
Re Trillion Corporation Ltd.
Parties
Petitioner (creditor): Petitioner; Company (respondent): Trillion Corporation Limited; Opposing Creditor: Tam Wai Shing; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
12 March 2001
Case Number
HCCW1037/2000
Procedural Posture
Companies Winding Up (petition Based on Judgment Debt) / Hearing/judgment (winding Up Order)
Outcome
Winding up order made against Trillion Corporation Limited
Legal Topics
Winding Up, Statutory Demand, Judgment Debt, Adjournment/stay of Winding Up
Source Language
EN
Company Law Insolvency Civil Procedure Winding Up Statutory Demand Judgment Debt Adjournment/stay of Winding Up

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 2 Party arguments 2 Amounts and remedies 2
Sign in to unlock

Parties

Petitioner

Petitioner (creditor)

Trillion Corporation Limited

Company (respondent)

Tam Wai Shing

Opposing Creditor

Official Receiver

Official Receiver

Procedural Posture

Companies Winding Up (petition Based on Judgment Debt) / Hearing/judgment (winding Up Order)

Legal Issues

  1. 1 Whether a winding up order should be made based on a judgment debt
  2. 2 Whether the court should grant an adjournment to allow the company to raise funds or to file financial evidence
  3. 3 Whether the company disputed the debt or sought to set aside the judgment

Ratio Decidendi

Where a winding up petition is founded on an undisputed judgment debt and the company does not seek to set aside the judgment, the court will ordinarily make an immediate winding up order and will not grant an adjournment merely because the company contends it can pay later.

Court Disposition

Winding up order made against Trillion Corporation Limited

Orders

  • Winding up order made against Trillion Corporation Limited