Re C A Pacific Finance Ltd.

Re C A Pacific Finance Ltd.

The court accepted the Official Receiver's recommendations and ordered the appointment of the three named persons because the Committee had become inadequately constituted and the proposed appointees represented significant creditor interests and a smaller creditor, thereby ensuring quorum and broad representation; the liquidators raised no objection.

Citation
Re C A Pacific Finance Ltd.
Parties
Applicant: Official Receiver; Company: C A Pacific Finance Limited; Liquidators: Liquidators; Former Committee Member: Mr Poon Kwok Fai; Former Committee Member: Mr Harry Hon; Former Committee Member: Mr Kwok Tsz San; Proposed Committee Member: Mr Peter Chow; Proposed Committee Member: High Stake Limited; Proposed Committee Member: Mrs Yuen Kwong Wai Sheung
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
16 December 1999
Case Number
HCCW36/1998
Procedural Posture
Application Under Companies Ordinance S.227 B (companies (winding Up) Proceedings) / Decision on Appointment to Committee of Inspection (chambers Hearing)
Outcome
Application allowed; vacancies filled by court appointment
Legal Topics
Committee of Inspection, Appointment of Creditors' Representatives, Quorum, Companies Ordinance S.227 B
Source Language
EN
Company Law Insolvency Law Civil Procedure Committee of Inspection Appointment of Creditors' Representatives Quorum Companies Ordinance S.227 B

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Parties

Official Receiver

Applicant

C A Pacific Finance Limited

Company

Liquidators

Liquidators

Mr Poon Kwok Fai

Former Committee Member

Mr Harry Hon

Former Committee Member

Mr Kwok Tsz San

Former Committee Member

Mr Peter Chow

Proposed Committee Member

High Stake Limited

Proposed Committee Member

Mrs Yuen Kwong Wai Sheung

Proposed Committee Member

Procedural Posture

Application Under Companies Ordinance S.227 B (companies (winding Up) Proceedings) / Decision on Appointment to Committee of Inspection (chambers Hearing)

Legal Issues

  1. 1 Whether the court should fill vacancies in the Committee of Inspection under s.227B of the Companies Ordinance
  2. 2 What criteria should guide appointment of creditor representatives to the Committee of Inspection
  3. 3 Whether the Official Receiver's recommendations should be accepted

Ratio Decidendi

The court accepted the Official Receiver's recommendations and ordered the appointment of the three named persons because the Committee had become inadequately constituted and the proposed appointees represented significant creditor interests and a smaller creditor, thereby ensuring quorum and broad representation; the liquidators raised no objection.

Court Disposition

Application allowed; vacancies filled by court appointment

Orders

  • Vacancies in the Committee of Inspection of C A Pacific Finance Limited caused by the resignations of Mr Kwok Tsz San, Mr Harry Hon and Mr Poon Kwok Fai are to be filled by the appointment of Mr Peter Chow, High Stake Limited and Mrs Yuen Kwong Wai Sheung.