L & M QUALITY COATINGS AND ENGINEERING LTD.

L & M QUALITY COATINGS AND ENGINEERING LTD.

Where a petitioning creditor proves an undisputed debt which was the subject of a demand and the company fails to appear or dispute the debt, the court will make an order to wind up the company; accordingly the petition was allowed and the company ordered wound up.

Citation
L & M QUALITY COATINGS AND ENGINEERING LTD.
Parties
Petitioner: Lui Siu Yik; Company (respondent): L & M Quality Coatings & Engineering Limited; Supporting Creditor: Yamano International Trading Company Limited
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
21 February 2005
Case Number
HCCW1263/2004
Procedural Posture
Winding Up Petition Under Companies Ordinance, Chapter 32 / Hearing and Judgment
Outcome
Petition allowed; company ordered to be wound up by the court.
Legal Topics
Winding Up, Petitioning Debt, Supporting Creditor, Costs
Source Language
EN
Company Law Insolvency Employment Law Winding Up Petitioning Debt Supporting Creditor Costs

Case Brief

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Parties

Lui Siu Yik

Petitioner

L & M Quality Coatings & Engineering Limited

Company (respondent)

Yamano International Trading Company Limited

Supporting Creditor

Procedural Posture

Winding Up Petition Under Companies Ordinance, Chapter 32 / Hearing and Judgment

Legal Issues

  1. 1 Whether the company should be wound up for non-payment of an undisputed debt
  2. 2 Whether the petitioning debt satisfied requirements for presentation of a winding up petition
  3. 3 Allocation of costs of the petitioner and supporting creditor

Ratio Decidendi

Where a petitioning creditor proves an undisputed debt which was the subject of a demand and the company fails to appear or dispute the debt, the court will make an order to wind up the company; accordingly the petition was allowed and the company ordered wound up.

Court Disposition

Petition allowed; company ordered to be wound up by the court.

Orders

  • Order that L & M Quality Coatings & Engineering Limited be wound up by the court.
  • The petitioner’s costs and the costs of the supporting creditor are to be paid out of the Company’s assets.