RE HONG KONG UNITED GROUP LTD.

RE HONG KONG UNITED GROUP LTD.

Because the company could not immediately pay the undisputed portion of the judgment debt and there was no acceptable arrangement, and because the question of applying the tenant's deposit could be resolved in liquidation, the court made a winding up order and declared the petitioner's costs a liquidation expense.

Source-derived case information.

Citation
RE HONG KONG UNITED GROUP LTD.
Parties
Petitioner: Petitioner (unnamed in judgment); Respondent (company): Hong Kong United Group Limited; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
29 May 2000
Case Number
HCCW266/2000
Procedural Posture
Companies Winding Up Petition / Final Hearing and Judgment (winding Up Order Made)
Outcome
Winding up order made against Hong Kong United Group Limited
Legal Topics
Winding Up Petition, Creditors' Petition, Set Off/deposit, Mesne Profits, Judgment Debt, Liquidation Expenses
Source Language
en
Company Law Insolvency Property Law Civil Procedure Winding Up Petition Creditors' Petition Set Off/deposit Mesne Profits +2 more

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Parties

Petitioner (unnamed in judgment)

Petitioner

Hong Kong United Group Limited

Respondent (company)

Official Receiver

Official Receiver

Procedural Posture

Companies Winding Up Petition / Final Hearing and Judgment (winding Up Order Made)

Legal Issues

  1. 1 Whether a winding up order should be made where the company cannot immediately pay the undisputed part of a judgment debt
  2. 2 Whether a deposit paid by the tenant (Centre Target Limited) can be set off against the judgment debt owed by Hong Kong United Group Limited
  3. 3 Whether the disputed application of the deposit should prevent making a winding up order

Ratio Decidendi

Because the company could not immediately pay the undisputed portion of the judgment debt and there was no acceptable arrangement, and because the question of applying the tenant's deposit could be resolved in liquidation, the court made a winding up order and declared the petitioner's costs a liquidation expense.

Court Disposition

Winding up order made against Hong Kong United Group Limited

Orders

  • Hong Kong United Group Limited to be wound up by the court
  • Costs of the petitioner to be a liquidation expense