RE MEMORY DEVICES (HK) LTD

RE MEMORY DEVICES (HK) LTD

Winding-up orders were made because the petitioning debts were not shown to be genuinely disputed with particulars, the court is satisfied there is a sufficient connection of the foreign unregistered parent company to Hong Kong (principal place of business and business conducted via Hong Kong subsidiaries), and there is a reasonable possibility of benefit to local creditors; consequently adjournment was refused and winding-up orders granted.

Citation
RE MEMORY DEVICES (HK) LTD
Parties
Petitioner: The Hongkong and Shanghai Banking Corporation (HSBC); Company (respondent): Memory Devices Limited; Petitioner: Standard Chartered Bank; Company (respondent): Willlink Technologies Limited; Company (respondent): Memory Devices (HK) Limited; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
14 April 2009
Case Number
HCCW53/2009
Procedural Posture
Companies (winding Up) / Judgment (court of First Instance)
Outcome
Winding-up orders made against Memory Devices Limited, Willlink Technologies Limited and Memory Devices (HK) Limited; adjournment refused.
Legal Topics
Winding Up, Foreign Unregistered Companies, Statutory Demand, Guarantee, Non Est Factum, Adjournment
Source Language
EN
Company Law Insolvency Civil Procedure Jurisdiction Winding Up Foreign Unregistered Companies Statutory Demand Guarantee +2 more

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 3 Authorities cited 1 Party arguments 2 Amounts and remedies 5
Sign in to unlock

Parties

The Hongkong and Shanghai Banking Corporation (HSBC)

Petitioner

Memory Devices Limited

Company (respondent)

Standard Chartered Bank

Petitioner

Willlink Technologies Limited

Company (respondent)

Memory Devices (HK) Limited

Company (respondent)

Official Receiver

Official Receiver

Procedural Posture

Companies (winding Up) / Judgment (court of First Instance)

Legal Issues

  1. 1 Whether winding-up orders should be made against the three companies
  2. 2 Whether the court has jurisdiction to wind up an unregistered foreign company with a principal place of business in Hong Kong
  3. 3 Whether the petitioning debts are genuinely disputed (non est factum) sufficient to defeat the petitions

Ratio Decidendi

Winding-up orders were made because the petitioning debts were not shown to be genuinely disputed with particulars, the court is satisfied there is a sufficient connection of the foreign unregistered parent company to Hong Kong (principal place of business and business conducted via Hong Kong subsidiaries), and there is a reasonable possibility of benefit to local creditors; consequently adjournment was refused and winding-up orders granted.

Court Disposition

Winding-up orders made against Memory Devices Limited, Willlink Technologies Limited and Memory Devices (HK) Limited; adjournment refused.

Orders

  • Winding-up order made in respect of Memory Devices Limited (HCCW 71/2009)
  • Winding-up order made in respect of Willlink Technologies Limited (HCCW 52/2009)