RE CHEUNG KWOK LEUNG
- Citation
- RE CHEUNG KWOK LEUNG
- Status
- Judgment
- Jurisdiction
- Hong Kong
- Court
- Court of First Instance
- Decision
- 11 June 2007
- Posture
- Bankruptcy Proceedings / Judgment
- Case number
- HCB1476/2007
- Language
- English
More details
- Court
- Court of First Instance
- Decision
- 11 June 2007
- Posture
- Bankruptcy Proceedings / Judgment
- Case number
- HCB1476/2007
- Language
- English
On this page
Professional case brief
Research organized from the available case record
01
Holding and result
The court concluded that because the judgment debt was long due, prior adjournments had failed to produce payment and the debtors gave no reliable indication when payment would be made, there was no valid reason to adjourn further; therefore bankruptcy orders should be made with costs for both petitions.
Court disposition
Bankruptcy orders made in respect of both petitions
Orders
- Bankruptcy order in HCB 1475/2007 (Re: Cheung Kwok Ming)
- Bankruptcy order in HCB 1476/2007 (Re: Cheung Kwok Leung)
- Costs awarded to the Petitioner in respect of both petitions
02
Material facts
Parties
Hang Seng Bank Limited
Petitioner Counsel: Ms R Lee of Messrs Li Kwok & LawCheung Kwok Ming
Debtor Counsel: Ms Teresa Y M Liu instructed by Messrs Tai Mak & PartnersCheung Kwok Leung
Debtor Counsel: Ms Teresa Y M Liu instructed by Messrs Tai Mak & PartnersAmounts and remedies
- Judgment Debt: HKD 1,500,000
03
Procedural history
Posture
Bankruptcy Proceedings / Judgment
04
Questions and positions
Legal issues
- 01
Whether the bankruptcy petitions should be adjourned pending payment by the debtors
- 02
Whether there is sufficient prospect of payment to justify further adjournment
Party arguments
- Applicant
- Petitioner submitted there was no valid reason to adjourn further given the judgment debt was due since September 2006, previous adjournments had failed to secure payment and there was no indication when the debt would be settled; accordingly the usual bankruptcy orders with costs should be made.
- Respondent
- Debtors relied on an asserted acquisition contract entered into in May 2006 and sought further time for payment, but provided no timetable or clear indication when the debt could be settled; previous adjournments had been granted to await payment without success.
05
Court’s reasoning
Legal principles
- 01
Common law / High Court practice
Adjournments of bankruptcy petitions require a real prospect of imminent payment; repeated adjournments without such prospect are inappropriate.
06
Ratio, limits and disposition
Ratio decidendi
The court concluded that because the judgment debt was long due, prior adjournments had failed to produce payment and the debtors gave no reliable indication when payment would be made, there was no valid reason to adjourn further; therefore bankruptcy orders should be made with costs for both petitions.
Obiter and limits
- The claimed acquisition contract more than one year old did not demonstrate an imminent ability to settle the judgment debt
Court disposition
Bankruptcy orders made in respect of both petitions
- Bankruptcy order in HCB 1475/2007 (Re: Cheung Kwok Ming)
- Bankruptcy order in HCB 1476/2007 (Re: Cheung Kwok Leung)
- Costs awarded to the Petitioner in respect of both petitions
Source and reliance status
Court of First Instance · 11 June 2007
This page organises the available record for research. Confirm quotations, current status, and subsequent treatment against the official source before relying on the case.
Judgment reading view
Judgment text
The complete available source text.
Court of First Instance
Judgment· 11 June 2007
bjbj HCB 1475/2007
IN THE HIGH COURT OF THE
HONG KONG SPECIAL ADMINISTRATIVE REGION
COURT OF FIRST INSTANCE BANKRUPTCY PROCEEDINGS NO. 1475 OF 2007 ____ Re: CHEUNG KWOK MING Ex Parte: HANG SENG BANK LIMITED ____ HCB 1476/2007
IN THE HIGH COURT OF THE
HONG KONG SPECIAL ADMINISTRATIVE REGION
COURT OF FIRST INSTANCE BANKRUPTCY PROCEEDINGS NO. 1476 OF 2007 ____ Re: CHEUNG KWOK LEUNG Ex Parte: HANG SENG BANK LIMITED ____ Before: Hon Chung J in Court Date of Hearing: 11 June 2007 Date of Judgment: 11 June 2007 ______
J U D G M E N T ______ It is common ground HCB 1475/2007 is related to HCB 1476/2007. In fact, these two petitions are based on the same judgment debt in the sum of roughly HK$1.5 million and the debt was due and owing since September 2006. Despite the two debtors assertion that an acquisition contract has been entered into in May 2006 (more than 1 year ago), there is no indication when the debt can be settled. At the debtors request, the petitions had earlier been adjourned several times to await payment by the debtors (but to no avail). In these circumstances, I agree with the petitioner that there is no valid reason to adjourn them further. There will accordingly be the usual bankruptcy order with costs in respect of both petitions. (Andrew Chung) Judge of the Court of First Instance High Court Ms R Lee of Messrs Li Kwok & Law, for the Petitioner Ms Teresa Y M Liu instructed by Messrs Tai Mak & Partners, for the Debtors Ms S 1udk 1udk i$&`G hcb.dot setup Microsoft Word 9.0 Judiciary Hong Kong Title Microsoft Word Document MSWordDoc Word.Document.8
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