RE HO KANG POR ALEX

RE HO KANG POR ALEX

The court found a final District Court judgment for a liquidated sum, the statutory demand was properly served and not complied with so the debtor appeared unable to pay; the assets alleged by the debtor were company property not security for the judgment, the debtor's offers were unreliable and made in bad faith or for delay, and therefore the s.6 requirements were satisfied and the petition could not be dismissed under s.6D(3); a bankruptcy order was made.

Citation
RE HO KANG POR ALEX
Parties
Petitioner (creditor): Citimex International Limited; Debtor: Ho Kang Por Alex
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
17 April 2003
Case Number
HCB21031/2002
Procedural Posture
Bankruptcy / Ex Parte Petition Hearing and Decision (bankruptcy Order Made)
Outcome
Bankruptcy order made against the debtor Ho Kang Por Alex
Legal Topics
Bankruptcy Petition, Statutory Demand, Inability to Pay, Security for Debt, Offers to Compound, Res Judicata
Source Language
EN
Bankruptcy Insolvency Civil Procedure Contract Enforcement Bankruptcy Petition Statutory Demand Inability to Pay Security for Debt +2 more

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Parties

Citimex International Limited

Petitioner (creditor)

Ho Kang Por Alex

Debtor

Procedural Posture

Bankruptcy / Ex Parte Petition Hearing and Decision (bankruptcy Order Made)

Legal Issues

  1. 1 Whether requirements under section 6 for presenting a bankruptcy petition are satisfied
  2. 2 Whether the debtor appears unable to pay the judgment debt for the purposes of section 6(2)(c) and section 6A
  3. 3 Whether the petitioner unreasonably refused offers by the debtor to secure or compound for the debt under section 6D(3)

Ratio Decidendi

The court found a final District Court judgment for a liquidated sum, the statutory demand was properly served and not complied with so the debtor appeared unable to pay; the assets alleged by the debtor were company property not security for the judgment, the debtor's offers were unreliable and made in bad faith or for delay, and therefore the s.6 requirements were satisfied and the petition could not be dismissed under s.6D(3); a bankruptcy order was made.

Court Disposition

Bankruptcy order made against the debtor Ho Kang Por Alex

Orders

  • Bankruptcy order made against Ho Kang Por Alex
  • Costs including all costs reserved, to be taxed if not agreed, to be paid out of the estate of the Debtor