RE MULTI-LUCK DEVELOPMENT LTD

Because the petitioner held a judgment debt and the Company's application for leave to appeal was dismissed and it ceased to oppose the petition, the court ordered the Company to be wound up and directed that the petitioner's costs be paid from the Company's assets.

Citation: RE MULTI-LUCK DEVELOPMENT LTD
Parties: Petitioner: Hi-Watt International Enterprises Limited; Company (respondent): Multi-Luck Development Limited; Official Receiver: Official Receiver
Court: Court of First Instance
Jurisdiction: Hong Kong
Judgment Date: 23 October 2006
Case Number: HCCW252/2006
Procedural Posture: Winding Up Petition / Hearing and Judgment (order to Wind Up)
Outcome: Order made to wind up Multi-Luck Development Limited
Legal Topics: Winding Up, Judgment Debt, Costs
Source Language: EN

Company Law Insolvency Civil Procedure Winding Up Judgment Debt Costs

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Parties

Hi-Watt International Enterprises Limited

Petitioner

Multi-Luck Development Limited

Company (respondent)

Official Receiver

Procedural Posture

Winding Up Petition / Hearing and Judgment (order to Wind Up)

Legal Issues

1 Whether a judgment debt can ground a winding-up petition
2 Whether the petition should be dismissed or adjourned pending appeal
3 Allocation of petition costs against company assets

Ratio Decidendi

Court Disposition

Order made to wind up Multi-Luck Development Limited

Orders

Order to wind up Multi-Luck Development Limited
Petitioner's costs to be paid out of the assets of the Company