RE RENCO HOLDING GROUP LTD

RE RENCO HOLDING GROUP LTD

Because a substantial debt in excess of HK$680 million was due and unpaid and the company failed to pay, and because the alleged oral collateral agreement was unsupported and contradicted by the written Loan Agreement, the statutory demand and petition were sufficient, third‑party security did not defeat the petition, and the jurisdictional threshold for winding up a foreign company was met, the court made a winding up order against the company.

Citation
[2025] HKCFI 3562
Parties
Petitioner: Tian Yuan Investment Holding Co., Limited; Company (respondent): Renco Holding Group Limited; Supporting Creditor: Cheok Ho Fung; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
8 August 2025
Case Number
HCCW235/2025
Procedural Posture
Winding Up Petition (companies (winding Up) No 235 of 2025) / Hearing and Winding Up Order Made
Outcome
Winding up order made against Renco Holding Group Limited
Legal Topics
Winding Up, Statutory Demand, Set Off, Guarantee, Jurisdiction Over Foreign Company, Third‑party Security
Source Language
EN
Company Law Insolvency Law Civil Procedure Winding Up Statutory Demand Set Off Guarantee Jurisdiction Over Foreign Company +1 more

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Parties

Tian Yuan Investment Holding Co., Limited

Petitioner

Renco Holding Group Limited

Company (respondent)

Cheok Ho Fung

Supporting Creditor

Official Receiver

Official Receiver

Procedural Posture

Winding Up Petition (companies (winding Up) No 235 of 2025) / Hearing and Winding Up Order Made

Legal Issues

  1. 1 Whether the Company was unable to pay its debts under s.178(1)(a) Cap.32
  2. 2 Validity and effect of the statutory demand given discrepancy in amounts
  3. 3 Existence and enforceability of alleged oral 'common understanding' / collateral agreement

Ratio Decidendi

Because a substantial debt in excess of HK$680 million was due and unpaid and the company failed to pay, and because the alleged oral collateral agreement was unsupported and contradicted by the written Loan Agreement, the statutory demand and petition were sufficient, third‑party security did not defeat the petition, and the jurisdictional threshold for winding up a foreign company was met, the court made a winding up order against the company.

Court Disposition

Winding up order made against Renco Holding Group Limited

Orders

  • Usual winding up order made against Renco Holding Group Limited