RE NG CHIN HO

RE NG CHIN HO

Given the debtor was clearly insolvent and entitled to present a self-petition, and applying the principle in Roberts Petroleum that a supervening insolvency scheme can prevent completion of a provisional charging order to preserve collective distribution, the court made the bankruptcy order sought and refused to allow the charging order nisi to be completed to the detriment of the general body of creditors.

Citation
RE NG CHIN HO
Parties
Petitioner (debtor): Ng Chin-ho; Opposing Creditor: Chung Yuk-man
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
11 April 2008
Case Number
HCB9808/2007
Procedural Posture
Bankruptcy Petition / Hearing and Determination/decision
Outcome
Bankruptcy order made in respect of the petitioner (Ng Chin-ho)
Legal Topics
Self Petition, Charging Order Nisi, Bankruptcy Order, Insolvency, Pari Passu Distribution
Source Language
EN
Bankruptcy Insolvency Civil Procedure Property Law Enforcement/execution Self Petition Charging Order Nisi Bankruptcy Order +1 more

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Parties

Ng Chin-ho

Petitioner (debtor)

Chung Yuk-man

Opposing Creditor

Procedural Posture

Bankruptcy Petition / Hearing and Determination/decision

Legal Issues

  1. 1 Whether a judgment creditor's charging order nisi should be made absolute once the debtor petitions for bankruptcy
  2. 2 Whether the debtor's self-petition was an improper device to defeat a charging order
  3. 3 Whether a bankruptcy order should be made given the debtor's financial position

Ratio Decidendi

Given the debtor was clearly insolvent and entitled to present a self-petition, and applying the principle in Roberts Petroleum that a supervening insolvency scheme can prevent completion of a provisional charging order to preserve collective distribution, the court made the bankruptcy order sought and refused to allow the charging order nisi to be completed to the detriment of the general body of creditors.

Court Disposition

Bankruptcy order made in respect of the petitioner (Ng Chin-ho)

Orders

  • Bankruptcy order made in respect of Ng Chin-ho dated 11 April 2008
  • Costs addressed (submissions and ruling on costs)