RE LIANG YANG KENG

RE LIANG YANG KENG

Because the company was shown to be solvent, there were no unpaid creditors, the liquidator reported no irregularities, and members holding 88% supported or did not oppose reverting the company to a going concern to deal with four properties, the court exercised its discretion under ss 209 and 255 of Cap 32 to permanently stay the voluntary winding up.

Citation
RE LIANG YANG KENG
Parties
Applicant (liquidator): Liang Yang Keng; Company (in Liquidation): Tai Wo Estates Management Limited (In Liquidation); Registrar Consenting to Void Dissolution: Registrar of Companies
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
15 March 2017
Case Number
HCMP1187/2016
Procedural Posture
Voluntary Winding Up Stay Application Under Companies (winding Up and Miscellaneous Provisions) Ordinance (cap 32) / Decision
Outcome
Application granted; voluntary winding up permanently stayed
Legal Topics
Winding Up, Stay of Winding Up, Restoration of Dissolved Company, Liquidator Appointment, Realisation of Property
Source Language
EN
Company Law Insolvency Law Civil Procedure Winding Up Stay of Winding Up Restoration of Dissolved Company Liquidator Appointment Realisation of Property

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Parties

Liang Yang Keng

Applicant (liquidator)

Tai Wo Estates Management Limited (In Liquidation)

Company (in Liquidation)

Registrar of Companies

Registrar Consenting to Void Dissolution

Procedural Posture

Voluntary Winding Up Stay Application Under Companies (winding Up and Miscellaneous Provisions) Ordinance (cap 32) / Decision

Legal Issues

  1. 1 Whether the voluntary winding up should be permanently stayed under ss 209 and 255 of Cap 32
  2. 2 Whether the company is solvent and has no unpaid creditors
  3. 3 Whether there are irregularities requiring investigation

Ratio Decidendi

Because the company was shown to be solvent, there were no unpaid creditors, the liquidator reported no irregularities, and members holding 88% supported or did not oppose reverting the company to a going concern to deal with four properties, the court exercised its discretion under ss 209 and 255 of Cap 32 to permanently stay the voluntary winding up.

Court Disposition

Application granted; voluntary winding up permanently stayed

Orders

  • Order permanently staying the voluntary winding up of Tai Wo Estates Management Limited pursuant to ss 209 and 255 of Cap 32