RE FAN CHI WING

RE FAN CHI WING

The judge exercised the court's discretion under s20C(2) and, on balance, found the evidence did not establish that approval at the adjourned meeting was so unlikely as to make an extension pointless; therefore the interim order was extended to 23 November 2009. The applicant was ordered to pay the opposing...

Source-derived case information.

Citation
RE FAN CHI WING
Parties
Applicant; Debtor: Fan Chi Wing; Respondent; Opposing Creditor: Sanford Yung-Tao Yung; Nominee: Chung Cheuk Ming Alex; Trustee in Bankruptcy; Respondent (no Attendance): Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
10 November 2009
Case Number
HCBI37/2009
Procedural Posture
Bankruptcy; Application to Extend Interim Order Under Voluntary Arrangement Provisions / Summons for Extension of Interim Order After Creditors' Meeting (adjourned Meeting Pending)
Outcome
Interim order extended to 23 November 2009; costs awarded to opposing creditor.
Legal Topics
Interim Order Extension, Creditors' Meeting, Voluntary Arrangement, Bankruptcy Ordinance Provisions, Costs
Source Language
en
Bankruptcy Insolvency Civil Procedure Interim Order Extension Creditors' Meeting Voluntary Arrangement Bankruptcy Ordinance Provisions Costs

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Parties

Fan Chi Wing

Applicant; Debtor

Sanford Yung-Tao Yung

Respondent; Opposing Creditor

Chung Cheuk Ming Alex

Nominee

Official Receiver

Trustee in Bankruptcy; Respondent (no Attendance)

Procedural Posture

Bankruptcy; Application to Extend Interim Order Under Voluntary Arrangement Provisions / Summons for Extension of Interim Order After Creditors' Meeting (adjourned Meeting Pending)

Legal Issues

  1. 1 Whether to extend the interim order under s20C(2) of the Bankruptcy Ordinance to facilitate consideration of the debtor's proposal at an adjourned creditors' meeting
  2. 2 Whether the adjourned meeting is pointless because the requisite 75% in value majority is unlikely to be achieved
  3. 3 Whether the interim order should be discharged under s20G(2)

Ratio Decidendi

The judge exercised the court's discretion under s20C(2) and, on balance, found the evidence did not establish that approval at the adjourned meeting was so unlikely as to make an extension pointless; therefore the interim order was extended to 23 November 2009. The applicant was ordered to pay the opposing creditor's costs assessed at a gross sum of $16,000.

Court Disposition

Interim order extended to 23 November 2009; costs awarded to opposing creditor.

Orders

  • Interim order extended to 23 November 2009 (7 days after adjourned creditors' meeting scheduled for 16 November 2009).
  • Applicant Fan Chi Wing to pay costs of Sanford Yung assessed on a gross sum basis at $16,000.