RE SUNCORP INDUSTRIAL LTD
- Citation
- RE SUNCORP INDUSTRIAL LTD
- Status
- Judgment
- Jurisdiction
- Hong Kong
- Court
- Court of First Instance
- Decision
- 15 December 2008
- Posture
- Winding Up Petition / Order Made (liquidation)
- Case number
- HCCW287/2008
- Language
- English
More details
- Court
- Court of First Instance
- Decision
- 15 December 2008
- Posture
- Winding Up Petition / Order Made (liquidation)
- Case number
- HCCW287/2008
- Language
- English
On this page
Professional case brief
Research organized from the available case record
01
Holding and result
The petitioner proved the debt and evidence showed multiple claims against the company; the company failed to file evidence or appear; on that basis the court was satisfied the company was unable to pay its debts and a winding up order was appropriate.
Court disposition
Winding up order made against Suncorp Industrial Limited
Orders
- Order to wind up Suncorp Industrial Limited
- Costs of the petitioner and one set of costs for the supporting creditors to be paid out of the Company\u2019s assets
02
Material facts
Parties
Dongguan Santai Electrical Appliances Company Limited
Petitioner (creditor) Counsel: Miss Grace Chow, instructed by Messrs Richards ButlerSuncorp Industrial Limited
Company (respondent) Counsel: Messrs Kennedys, for the Company, absentSan Tai Industrial Enterprises Limited
Supporting Creditor Counsel: Miss Grace Chow, instructed by Messrs Richards ButlerDorup Limited t/a Tung Kong Electrical Company
Supporting Creditor Counsel: Miss Grace Chow, instructed by Messrs Richards ButlerTFL Electronics Limited
Supporting Creditor Counsel: Messrs Tony Kan & Co, absentUnitech Battery Limited
Supporting Creditor Counsel: Messrs Simon C W Yung & Co, absentCharter Technology Limited t/a Hong Kong Resistors Manufactory
Supporting Creditor Counsel: Mr Kelvin Liu, instructed by Messrs W S Szeto & LeeOfficial Receiver
Official Receiver Counsel: Ms Vivian YeungAmounts and remedies
- Petition Debt: HKD 2,274,782
- Supporting Creditor Debt Approx: HKD 3,300,000
- Combined Claims Against Company Approx: HKD 24,000,000
03
Procedural history
Posture
Winding Up Petition / Order Made (liquidation)
04
Questions and positions
Legal issues
- 01
Whether the company is unable to pay its debts
- 02
Whether a winding up order should be made
- 03
Allocation of costs
Party arguments
- Applicant
- Petitioner relied on an unpaid debt of $2,274,782.00 as at 18 September 2008, appearance of supporting creditors with about $3.3 million, and a parent company announcement disclosing 21 legal proceedings against the company with combined claims over $24 million; company filed no evidence and did not appear; petitioner sought winding up.
- Respondent
- Company filed no evidence and did not appear; no substantive defence or contrary evidence was presented on behalf of the company.
05
Court’s reasoning
Legal principles
- 01
Companies/insolvency law (Chapter 32 of the Laws of Hong Kong) and insolvency principles
A creditor who proves a debt and demonstrates evidence of the company\u2019s inability to pay may obtain a winding up order.
- 02
Court practice and exercise of equitable discretion in insolvency proceedings
Costs of the petitioner and one set of supporting creditors may be ordered to be paid out of the company\u2019s assets when winding up is ordered.
06
Ratio, limits and disposition
Ratio decidendi
The petitioner proved the debt and evidence showed multiple claims against the company; the company failed to file evidence or appear; on that basis the court was satisfied the company was unable to pay its debts and a winding up order was appropriate.
Obiter and limits
- The parent company\u2019s announcement of 21 sets of proceedings and combined claims over $24 million was noted as indicative of significant creditor pressure though peripheral to the margin of proof required.
- Absence of any filed evidence by the company and non-appearance was remarked upon as justifying the court\u2019s finding of inability to pay.
Court disposition
Winding up order made against Suncorp Industrial Limited
- Order to wind up Suncorp Industrial Limited
- Costs of the petitioner and one set of costs for the supporting creditors to be paid out of the Company\u2019s assets
Source and reliance status
Court of First Instance · 15 December 2008
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· 15 December 2008
bjbj [mi gP Chapter 32 of the Laws of Hong Kong ____ Before: Hon Kwan J in Court Date of Hearing: 15 December 2008 Date of Judgment: 15 December 2008 ______
J U D G M E N T ______ This is an amended petition to wind up Suncorp Industrial Limited ( the Company ) presented by a creditor, Dongguan Santai Electrical Appliances Company Limited, which was substituted as the petitioner by an order made on 27 October 2008. The Company was given leave to file evidence in opposition to the amended petition. No evidence has been filed, and the Company has not appeared today. The debt in the amended petition is in the sum of $2,274,782.00 as at 18 September 2008. A supporting creditor has appeared today with a debt of some $3.3 million odd. It would also appear from an announcement made by the parent company, Suncorp Technologies Limited, that as of the day of the announcement on 29 October 2008, there were 21 sets of legal proceedings against the Company in the courts of Hong Kong with a combined claim of over $24 million. I am satisfied that the Company is unable to pay its debts, and it should be put into liquidation. I make an order to wind up the Company. The costs of the petitioner and one set of costs for the supporting creditors are to be paid out of the Company s assets. (S Kwan) Judge of the Court of First Instance High Court Miss Grace Chow, instructed by Messrs Richards Butler, for the Petitioner and the Supporting Creditors, San Tai Industrial Enterprises Limited & Dorup Limited t/a Tung Kong Electrical Company Messrs Kennedys, for the Company, absent Messrs Tony Kan & Co, for the Supporting Creditor, TFL Electronics Limited, absent Messrs Simon C W Yung & Co, for the Supporting Creditor, Unitech Battery Limited, absent Mr Kelvin Liu, instructed by Messrs W S Szeto & Lee, for the Supporting Creditor, Charter Technology Limited t/a Hong Kong Resistors Manufactory Ms Vivian Yeung, for the Official Receiver
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