RE BOKEY (P & S) TRADING CO LTD

RE BOKEY (P & S) TRADING CO LTD

The court exercised its discretion under Companies Ordinance s200(3) to grant retrospective ratification and sanction payment of Panel B agents' fees out of the assets of the respective companies subject to taxation, because the appointments served the interests of creditors, there was no evidence of conflict or...

Source-derived case information.

Citation
RE BOKEY (P & S) TRADING CO LTD
Parties
Applicant and Liquidator: Official Receiver; Company in Liquidation: Newsweb International Limited; Company in Liquidation: China Arts and Crafts Printing Limited; Company in Liquidation: Philma Petroleum Limited; Company in Liquidation: Rich Glory Shipping Limited; Company in Liquidation: Gearland Company Limited; Company in Liquidation: Pan-Win Realty Agency Limited; Company in Liquidation: Pan-Pacific Exhibition Contractors Limited; Company in Liquidation: Best Gain Engineering Limited; Company in Liquidation: T.D.A. Company Limited; Company in Liquidation: Mondial Atelier Garment (Hong Kong) Limited; Company in Liquidation: On Tai Garment Factory Limited; Company in Liquidation: Union Rise Development Limited; Company in Liquidation: Bokey (P & S) Trading Company Limited; Company in Liquidation: Winston Camera & Radio Company Limited; Company in Liquidation: Phantom Records Limited; Company in Liquidation: Frontmax Limited; Company in Liquidation: Bilison (Asia) Limited; Company in Liquidation: Construction & Production Systems Limited; Company in Liquidation: Sun Wing Lee Hing Chan Co Limited
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
20 April 2007
Case Number
HCCW521/1999
Procedural Posture
Companies Winding Up Proceedings (summary Liquidations) / Application for Retrospective Ratification of Agent Appointments and Sanction for Payment of Fees; Taxation Hearings Resumed
Outcome
Applications granted: court authorised retrospective ratification of the Panel B appointments and sanctioned payment of agents' fees from company assets subject to taxation
Legal Topics
Appointment of Agents, Retrospective Ratification Under Section 200(3), Delegation of Liquidator's Functions, Taxation of Liquidator/agent Fees, Inherent Jurisdiction
Source Language
en
Company Law Insolvency Civil Procedure Appointment of Agents Retrospective Ratification Under Section 200(3) Delegation of Liquidator's Functions Taxation of Liquidator/agent Fees Inherent Jurisdiction

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Parties

Official Receiver

Applicant and Liquidator

Newsweb International Limited

Company in Liquidation

China Arts and Crafts Printing Limited

Company in Liquidation

Philma Petroleum Limited

Company in Liquidation

Rich Glory Shipping Limited

Company in Liquidation

Gearland Company Limited

Company in Liquidation

Pan-Win Realty Agency Limited

Company in Liquidation

Pan-Pacific Exhibition Contractors Limited

Company in Liquidation

Best Gain Engineering Limited

Company in Liquidation

T.D.A. Company Limited

Company in Liquidation

Mondial Atelier Garment (Hong Kong) Limited

Company in Liquidation

On Tai Garment Factory Limited

Company in Liquidation

Union Rise Development Limited

Company in Liquidation

Bokey (P & S) Trading Company Limited

Company in Liquidation

Winston Camera & Radio Company Limited

Company in Liquidation

Phantom Records Limited

Company in Liquidation

Frontmax Limited

Company in Liquidation

Bilison (Asia) Limited

Company in Liquidation

Construction & Production Systems Limited

Company in Liquidation

Sun Wing Lee Hing Chan Co Limited

Company in Liquidation

Procedural Posture

Companies Winding Up Proceedings (summary Liquidations) / Application for Retrospective Ratification of Agent Appointments and Sanction for Payment of Fees; Taxation Hearings Resumed

Legal Issues

  1. 1 Whether Panel B appointments amounted to an impermissible delegation of the Official Receiver's functions as liquidator
  2. 2 Whether the court can retrospectively ratify those appointments under Companies Ordinance s200(3) or its inherent jurisdiction
  3. 3 Whether agents' fees can be paid out of the assets of the companies subject to taxation

Ratio Decidendi

The court exercised its discretion under Companies Ordinance s200(3) to grant retrospective ratification and sanction payment of Panel B agents' fees out of the assets of the respective companies subject to taxation, because the appointments served the interests of creditors, there was no evidence of conflict or misconduct, the intended taxation provided independent scrutiny, and it would be disproportionate to investigate delegation in each case individually.

Court Disposition

Applications granted: court authorised retrospective ratification of the Panel B appointments and sanctioned payment of agents' fees from company assets subject to taxation

Orders

  • Retrospective authorisation and ratification of the Official Receiver's appointments of Panel B agents in each of the 19 listed cases under Companies Ordinance s200(3) and the court's inherent jurisdiction
  • Agents' fees and bills to be taxed by the court in the normal way before any payment from company assets is made