GUANGDONG WATER CONSERVANCY & HYDRO-POWER ENGINEERING DEVELOPMENT CO. LTD.

GUANGDONG WATER CONSERVANCY & HYDRO-POWER ENGINEERING DEVELOPMENT CO. LTD.

Given the proved debt of HK$19,073,182.43 arising from dishonoured cheques, the service of a statutory demand, the timely filing of the petition and the company's non-opposition, the court was satisfied that the statutory test for inability to pay was met and made a winding-up order and directed that the petitioner's costs be paid out of the company's assets.

Citation
GUANGDONG WATER CONSERVANCY & HYDRO-POWER ENGINEERING DEVELOPMENT CO. LTD.
Parties
Petitioner: Top Treasure Engineering Limited; Company (subject): Guangdong Water Conservancy & Hydro-Power Engineering Development Company Limited; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
8 July 2002
Case Number
HCCW1301/2001
Procedural Posture
Companies (winding Up) / Winding Up Petition — Order Made
Outcome
Order made to wind up the company
Legal Topics
Winding Up, Statutory Demand, Inability to Pay Debts, Dishonoured Cheques
Source Language
EN
Company Law Insolvency Law Debt Recovery Winding Up Statutory Demand Inability to Pay Debts Dishonoured Cheques

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 1 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Parties

Top Treasure Engineering Limited

Petitioner

Guangdong Water Conservancy & Hydro-Power Engineering Development Company Limited

Company (subject)

Official Receiver

Official Receiver

Procedural Posture

Companies (winding Up) / Winding Up Petition — Order Made

Legal Issues

  1. 1 Whether the company is unable to pay its debts
  2. 2 Whether a winding-up order should be made pursuant to the Companies Ordinance
  3. 3 Whether the petitioner's costs should be paid out of the company's assets

Ratio Decidendi

Given the proved debt of HK$19,073,182.43 arising from dishonoured cheques, the service of a statutory demand, the timely filing of the petition and the company's non-opposition, the court was satisfied that the statutory test for inability to pay was met and made a winding-up order and directed that the petitioner's costs be paid out of the company's assets.

Court Disposition

Order made to wind up the company

Orders

  • The company is to be wound up by the court.
  • The petitioner's costs are to be paid out of the company's assets.