RE CHEUNG KWOK MING
- Citation
- RE CHEUNG KWOK MING
- Status
- Judgment
- Jurisdiction
- Hong Kong
- Court
- Court of First Instance
- Decision
- 11 June 2007
- Posture
- Bankruptcy Proceedings / Hearing on Bankruptcy Petitions and Decision to Make Bankruptcy Orders
- Case number
- HCB1475/2007
- Language
- English
More details
- Court
- Court of First Instance
- Decision
- 11 June 2007
- Posture
- Bankruptcy Proceedings / Hearing on Bankruptcy Petitions and Decision to Make Bankruptcy Orders
- Case number
- HCB1475/2007
- Language
- English
On this page
Professional case brief
Research organized from the available case record
01
Holding and result
Because the judgment debt of roughly HK$1.5 million was due since September 2006, repeated adjournments to await payment had not produced any settlement and there was no indication when payment would be made, the court concluded there was no valid reason to adjourn further and therefore made the usual bankruptcy orders with costs against both debtors.
Court disposition
Bankruptcy orders granted against both debtors
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 (Hang Seng Bank Limited)
02
Material facts
Parties
Hang Seng Bank Limited
Petitioner Counsel: Ms R Lee (Messrs Li Kwok & Law)Cheung Kwok Ming
Debtor Counsel: Ms Teresa Y M Liu (instructed by Messrs Tai Mak & Partners)Cheung Kwok Leung
Debtor Counsel: Ms Teresa Y M Liu (instructed by Messrs Tai Mak & Partners)Amounts and remedies
- Judgment Debt: HKD 1,500,000
03
Procedural history
Posture
Bankruptcy Proceedings / Hearing on Bankruptcy Petitions and Decision to Make Bankruptcy Orders
04
Questions and positions
Legal issues
- 01
Whether the court should further adjourn bankruptcy petitions pending payment by the debtors
- 02
Whether bankruptcy orders should be made against the debtors based on the unpaid judgment debt
- 03
Whether costs should be awarded to the petitioner
Party arguments
- Applicant
- Petitioner submitted there is an unpaid judgment debt of approximately HK$1.5 million due since September 2006, multiple adjournments to await payment had failed, and there was no indication when payment would be made; therefore there was no valid reason to adjourn further and bankruptcy orders with costs should be made.
- Respondent
- Debtors asserted that an acquisition contract had been entered into in May 2006 and sought more time to settle the debt, requesting adjournments to await payment.
05
Court’s reasoning
Legal principles
- 01
Bankruptcy Ordinance (Cap. 6) and established insolvency practice in Hong Kong
Court may make a bankruptcy order where a judgment debt is due and owing and there is no satisfactory prospect of payment
- 02
Civil procedure principles and case management practice
Adjournments to await payment are discretionary and should not be granted where repeated opportunities have failed to produce settlement
06
Ratio, limits and disposition
Ratio decidendi
Because the judgment debt of roughly HK$1.5 million was due since September 2006, repeated adjournments to await payment had not produced any settlement and there was no indication when payment would be made, the court concluded there was no valid reason to adjourn further and therefore made the usual bankruptcy orders with costs against both debtors.
Obiter and limits
- The petitions had been adjourned several times at the debtors' request but without result
- There was no indication from the debtors as to the timetable for settlement under the alleged acquisition contract
Court disposition
Bankruptcy orders granted against both debtors
- 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 (Hang Seng Bank Limited)
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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