RE CHEONG SHING REPAIR & MAINTENANCE LTD

RE CHEONG SHING REPAIR & MAINTENANCE LTD

The court concluded the company was unable to pay its debts and that an adjournment would serve no useful purpose because the Wing Hong companies had, by their solicitors' letters, denied any payment within the period (or at all); accordingly the petition must be granted and the company wound up.

Citation
RE CHEONG SHING REPAIR & MAINTENANCE LTD
Parties
Petitioner: SKK (Hong Kong) Co. Ltd.; Company (respondent): Cheong Shing Repair & Maintenance Limited; Supporting Creditor: Lik Shun Electrical Engineering Co. Ltd.
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
17 July 2006
Case Number
HCCW222/2006
Procedural Posture
Company Winding Up Petition / Hearing and Judgment
Outcome
Company ordered to be wound up
Legal Topics
Winding Up, Judgment Debt, Demand for Payment, Adjournment, Supporting Creditor
Source Language
EN
Company Law Insolvency Civil Procedure Winding Up Judgment Debt Demand for Payment Adjournment Supporting Creditor

Case Brief

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Parties

SKK (Hong Kong) Co. Ltd.

Petitioner

Cheong Shing Repair & Maintenance Limited

Company (respondent)

Lik Shun Electrical Engineering Co. Ltd.

Supporting Creditor

Procedural Posture

Company Winding Up Petition / Hearing and Judgment

Legal Issues

  1. 1 Whether the company is unable to pay its debts
  2. 2 Whether a four-week adjournment should be granted to allow recovery of alleged receivables from third parties
  3. 3 Whether the petition should be granted despite asserted prospects of recovery by the company

Ratio Decidendi

The court concluded the company was unable to pay its debts and that an adjournment would serve no useful purpose because the Wing Hong companies had, by their solicitors' letters, denied any payment within the period (or at all); accordingly the petition must be granted and the company wound up.

Court Disposition

Company ordered to be wound up

Orders

  • Winding-up order made against Cheong Shing Repair & Maintenance Limited
  • Adjournment refused