RE PACIFIC OCEAN MARINE LTD

RE PACIFIC OCEAN MARINE LTD

The petitioner established insolvency and the opposing contributory failed to demonstrate any bona fide defence on substantial grounds despite nine months to produce evidence; accordingly the court must grant the usual winding-up order and refuse further time to file evidence.

Source-derived case information.

Citation
[2021] HKCFI 2812
Parties
Petitioner: Petitioner; Company: Pacific Ocean Marine Limited; Opposing Contributory/shareholder: Wan Zhangqing; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
13 September 2021
Case Number
HCCW51/2021
Procedural Posture
Companies Winding Up Proceedings / Decision on Winding Up Petition
Outcome
Winding up order granted
Legal Topics
Winding Up, Insolvency, Opposition to Petition, Bona Fide Defence
Source Language
en
Company Law Insolvency Civil Procedure Winding Up Opposition to Petition Bona Fide Defence

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Parties

Petitioner

Petitioner

Pacific Ocean Marine Limited

Company

Wan Zhangqing

Opposing Contributory/shareholder

Official Receiver

Official Receiver

Procedural Posture

Companies Winding Up Proceedings / Decision on Winding Up Petition

Legal Issues

  1. 1 Whether a bona fide defence on substantial grounds to the winding-up petition has been shown
  2. 2 Whether the opposing contributory has demonstrated credible evidence challenging the veracity of the loan relied upon by the petitioner
  3. 3 Whether further time should be granted to the opposing contributory to file evidence

Ratio Decidendi

The petitioner established insolvency and the opposing contributory failed to demonstrate any bona fide defence on substantial grounds despite nine months to produce evidence; accordingly the court must grant the usual winding-up order and refuse further time to file evidence.

Court Disposition

Winding up order granted

Orders

  • Order that Pacific Ocean Marine Limited be wound up pursuant to the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap 32)
  • No further time is granted to the opposing contributory to file evidence to oppose the petition