RE HAWKINS DEVELOPMENT LTD

RE HAWKINS DEVELOPMENT LTD

On the available evidence the court was not prepared to reject the petitioner's evidence as incredible; balancing the competing interests, the court exercised its discretion to grant a limited extension of time to 9 March 2009 subject to conditions (execution of a personal guarantee by director Leung Ka Ho and a HK$100,000 stakeholder payment), and ordered costs to the respondent.

Citation
RE HAWKINS DEVELOPMENT LTD
Parties
Petitioner: Walford International Holdings Inc.; Respondent: Hawkins Development Limited; Intervener: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
6 February 2009
Case Number
HCCW215/2007
Procedural Posture
Companies (winding Up) No. 215 of 2007 / Application for Extension of Time to Provide Security for Costs — Hearing and Decision
Outcome
Extension of time granted to 9 March 2009 with conditions; costs to the respondent.
Legal Topics
Security for Costs, Extension of Time, Directors' Personal Guarantee, Shareholder Approval, Beneficial Ownership
Source Language
EN
Company Law Insolvency Civil Procedure Security for Costs Extension of Time Directors' Personal Guarantee Shareholder Approval Beneficial Ownership

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 2 Party arguments 2 Amounts and remedies 4
Sign in to unlock

Parties

Walford International Holdings Inc.

Petitioner

Hawkins Development Limited

Respondent

Official Receiver

Intervener

Procedural Posture

Companies (winding Up) No. 215 of 2007 / Application for Extension of Time to Provide Security for Costs — Hearing and Decision

Legal Issues

  1. 1 Whether special reasons exist to extend time for compliance with an order to provide security for costs
  2. 2 Whether the petitioner adduced credible and sufficient evidence of shareholder approval requirements and pending share transfer
  3. 3 Whether a director's personal guarantee and partial deposit provide adequate security

Ratio Decidendi

On the available evidence the court was not prepared to reject the petitioner's evidence as incredible; balancing the competing interests, the court exercised its discretion to grant a limited extension of time to 9 March 2009 subject to conditions (execution of a personal guarantee by director Leung Ka Ho and a HK$100,000 stakeholder payment), and ordered costs to the respondent.

Court Disposition

Extension of time granted to 9 March 2009 with conditions; costs to the respondent.

Orders

  • Time to comply with the order to provide security extended to 9 March 2009
  • Within 3 days Leung Ka Ho to execute the draft personal guarantee exhibited to his 2nd affirmation