RE KOOLL INTERNATIONAL CONSOLIDATED SERVICES LTD
- Citation
- RE KOOLL INTERNATIONAL CONSOLIDATED SERVICES LTD
- Status
- Judgment
- Jurisdiction
- Hong Kong
- Court
- Court of First Instance
- Decision
- 13 September 2004
- Posture
- Companies (winding Up) / Judgment Winding Up Order Made
- Case number
- HCCW722/2004
- Language
- English
More details
- Court
- Court of First Instance
- Decision
- 13 September 2004
- Posture
- Companies (winding Up) / Judgment Winding Up Order Made
- Case number
- HCCW722/2004
- Language
- English
On this page
Professional case brief
Research organized from the available case record
01
Holding and result
The Court found the petitioning debt to be undisputed, the company unable to satisfy its debts given insufficient realization on execution and failure to raise funds, and therefore made a winding-up order; petitioner's costs were ordered to be paid out of the company's assets.
Court disposition
Winding-up order made against KOOLL INTERNATIONAL CONSOLIDATED SERVICES LIMITED.
Orders
- Winding-up order made against the Company.
- Petitioner’s costs to be paid out of the Company’s assets.
02
Material facts
Parties
Madam Sin Wei Ching
Petitioner Counsel: Mr Joseph Lo, Legal Aid DepartmentKOOLL INTERNATIONAL CONSOLIDATED SERVICES LIMITED
Company/respondent Counsel: Messrs Simon Siu, Wong Lam & ChanOfficial Receiver
Interested Party Counsel: Miss Elsie YiuAmounts and remedies
- Petitioner Outstanding Award Balance: HKD 38,001.01
- Total Balance Due to Five Other Employees: HKD 356,178.37
- Amount Realised on Execution: HKD 25,788
03
Procedural history
Posture
Companies (winding Up) / Judgment Winding Up Order Made
04
Questions and positions
Legal issues
- 01
Whether the company should be wound up for insolvency
- 02
Whether the petitioning debt was established and undisputed
- 03
Whether petitioner’s costs should be paid out of company assets
Party arguments
- Applicant
- Petitioner relied on a Labour Tribunal award with an outstanding balance of HK$38,001.01 and additional liabilities to employees totalling HK$356,178.37; execution realised only HK$25,788.00 and was insufficient, demonstrating insolvency and justifying winding up.
- Respondent
- The Company did not appear; its solicitors stated it could not obtain mortgagee consent to raise funds and no defence to the petitioning debt was advanced.
05
Court’s reasoning
Legal principles
- 01
Companies Ordinance, Chapter 32 / Insolvency practice
A creditor may petition to wind up a company when a debt is due and the company is unable to pay its debts.
- 02
Established insolvency and winding-up principles applied by the Court
Undisputed judgment debts and insufficient realization on execution support a finding of insolvency for winding-up purposes.
06
Ratio, limits and disposition
Ratio decidendi
The Court found the petitioning debt to be undisputed, the company unable to satisfy its debts given insufficient realization on execution and failure to raise funds, and therefore made a winding-up order; petitioner's costs were ordered to be paid out of the company's assets.
Obiter and limits
- Company’s solicitors’ letter about mortgagee consent failure was noted but company’s non-appearance and lack of dispute rendered further adjournments ineffective.
- Official Receiver’s presence was recorded but no contrary submissions were made.
Court disposition
Winding-up order made against KOOLL INTERNATIONAL CONSOLIDATED SERVICES LIMITED.
- Winding-up order made against the Company.
- Petitioner’s costs to be paid out of the Company’s assets.
Source and reliance status
Court of First Instance · 13 September 2004
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· 13 September 2004
bjbj HCCW 722/2004
IN THE HIGH COURT OF THE
HONG KONG SPECIAL ADMINISTRATIVE REGION
COURT OF FIRST INSTANCE COMPANIES (WINDING-UP) NO. 722 OF 2004 ____ IN THE MATTER of the Companies Ordinance, Chapter 32 and IN THE MATTER of KOOLL INTERNATIONAL CONSOLIDATED SERVICES LIMITED ____ Before: Hon Kwan J in Court Date of Hearing: 13 September 2004 Date of Judgment: 13 September 2004 ______
J U D G M E N T ______ This petition to wind up Kooll International Consolidated Services Limited ( the Company ) was presented by Madam Sin Wei Ching, based on an award obtained in the Labour Tribunal on 29 March 2004. The balance of the award outstanding and not paid to the petitioner is in the sum of HK$38,001.01. The Company is also indebted to five other employees for the total sum of HK$356,178.37, being the balance due under the same award of the Labour Tribunal. Execution was levied on the goods and chattels of the Company on 10 May 2004 and the amount realised being HK$25,788.00 is not sufficient to satisfy the entire judgment debts. The petition herein was presented on 25 June 2004. It was adjourned on 9 August 2004 to give an opportunity to the Company to arrange a further charge of its property to raise funds. It was further adjourned on 30 August 2004 to give yet another opportunity to the Company to raise money. By a letter from the Company s solicitors dated 10 September 2004, it was stated that the Company is unable to obtain the necessary consent from the mortgagee bank to further mortgage its property and its loan application cannot be processed. The Company has not appeared today. There has been no dispute of the petitioning debt and the Company is clearly insolvent. I make a winding-up order against the Company. The petitioner s costs are to be paid out of the Company s assets. (S Kwan) Judge of the Court of First Instance High Court Mr Joseph Lo, of Legal Aid Department, for the Petitioner Messrs Simon Siu, Wong Lam & Chan, for the Company, absent Miss Elsie Yiu, for the Official Receiver
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