RE WONG KAI FUNG

RE WONG KAI FUNG

The debtor failed to raise a bona fide dispute on substantial grounds; the advance remained a loan payable under the Loan Agreement because the agency agreement was terminated within 36 months; substituted service by advertisement was valid; therefore a bankruptcy order should be made and costs awarded to the...

Source-derived case information.

Citation
RE WONG KAI FUNG
Parties
Creditor: NY LIMITED; Debtor: The Debtor; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
21 October 2009
Case Number
HCB424/2009
Procedural Posture
Bankruptcy Petition / Judgment
Outcome
Bankruptcy order made against the debtor
Legal Topics
Loan Agreement, Agency Agreement, Statutory Demand, Bona Fide Dispute, Substituted Service, Costs
Source Language
en
Bankruptcy Insolvency Contract Employment Law Loan Agreement Agency Agreement Statutory Demand Bona Fide Dispute +2 more

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Parties

NY LIMITED

Creditor

The Debtor

Debtor

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy Petition / Judgment

Legal Issues

  1. 1 Whether the advance is a loan repayable under the Loan Agreement following termination within 36 months
  2. 2 Whether the debtor raised a bona fide dispute on substantial grounds to resist bankruptcy
  3. 3 Whether substituted service by advertisement was valid

Ratio Decidendi

The debtor failed to raise a bona fide dispute on substantial grounds; the advance remained a loan payable under the Loan Agreement because the agency agreement was terminated within 36 months; substituted service by advertisement was valid; therefore a bankruptcy order should be made and costs awarded to the petitioner.

Court Disposition

Bankruptcy order made against the debtor

Orders

  • Make a bankruptcy order against the debtor
  • Debtor to pay the petitioner's costs of these proceedings, including all costs reserved, to be taxed if not agreed