RE MAX SUNNY LTD

RE MAX SUNNY LTD

ANZ established a good prima facie case for winding up by proof of unpaid statutory demands and insolvency and demonstrated that overall it was just and convenient to appoint provisional liquidators because the companies' assets and receivables were at serious risk, management was inactive and unable to protect creditors' interests, and Z‑Obee had sufficient connection with Hong Kong to permit jurisdiction under s327; accordingly provisional liquidators were appointed.

Citation
RE MAX SUNNY LTD
Parties
Petitioner/creditor: Australia and New Zealand Banking Group Limited; Supporting Creditor: HSBC; Respondent/company (borrower): Max Sunny Ltd; Respondent/company (guarantor): Z-Obee Holdings Limited; Interested Party: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
27 June 2014
Case Number
HCCW84/2014
Procedural Posture
Companies (winding‑up) No.85 of 2014 / Resumed Hearing of Application for Appointment of Provisional Liquidators
Outcome
Provisional liquidators appointed over Max Sunny Ltd and Z‑Obee Holdings Limited and their assets
Legal Topics
Provisional Liquidators, Statutory Demand, Jurisdiction Over Foreign Company, Prima Facie Case, Balance of Convenience
Source Language
EN
Company Law Insolvency Law Procedural Law Cross‑border Insolvency Provisional Liquidators Statutory Demand Jurisdiction Over Foreign Company Prima Facie Case +1 more

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Parties

Australia and New Zealand Banking Group Limited

Petitioner/creditor

HSBC

Supporting Creditor

Max Sunny Ltd

Respondent/company (borrower)

Z-Obee Holdings Limited

Respondent/company (guarantor)

Official Receiver

Interested Party

Procedural Posture

Companies (winding‑up) No.85 of 2014 / Resumed Hearing of Application for Appointment of Provisional Liquidators

Legal Issues

  1. 1 Whether there is a good prima facie case for winding up the companies
  2. 2 Whether it is just and convenient to appoint provisional liquidators
  3. 3 Whether the court has jurisdiction to wind up the foreign company Z‑Obee under s327

Ratio Decidendi

ANZ established a good prima facie case for winding up by proof of unpaid statutory demands and insolvency and demonstrated that overall it was just and convenient to appoint provisional liquidators because the companies' assets and receivables were at serious risk, management was inactive and unable to protect creditors' interests, and Z‑Obee had sufficient connection with Hong Kong to permit jurisdiction under s327; accordingly provisional liquidators were appointed.

Court Disposition

Provisional liquidators appointed over Max Sunny Ltd and Z‑Obee Holdings Limited and their assets

Orders

  • Appointment of provisional liquidators in terms of the draft order as amended on 27 June 2014
  • Summonses for appointment of provisional liquidators restored for hearing and granted by consent of the companies