Re QUE JOCELYN CO.

Re QUE JOCELYN CO.

The statutory demand does not, in the absence of express provision, entitle the creditor to interest accruing after issuance of the demand, but the defendant is entitled to interest as of right under the judgment for costs under s.49(1) High Court Ordinance; interest on the taxed costs runs from 29 April 1997 to the date of payment into court (12 August 1999) and no further interest is payable after payment into court; Mr Finley remains personally liable for the costs and interest to the extent of his original liability under the judgment.

Citation
Re QUE JOCELYN CO.
Parties
Plaintiff / Judgment Debtor: QUE JOCELYN CO trading as SCENTED DELIGHTS; Defendant / Petitioning Creditor: BROADAIR EXPRESS LIMITED; Former Solicitor of Plaintiff; Judgment Debtor / Appellant: Mr Stephen Finley of Messrs Finley & Co.
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
31 January 2000
Case Number
HCB612/1999
Procedural Posture
Civil Action (hca 3477/1996) and Related Bankruptcy Proceedings (hcb 612/1999); Appeal and Applications / Judgment on Applications Following Hearing (decision Dated 31 January 2000)
Outcome
Order amended to provide interest on taxed costs at judgment rate from 29 April 1997 to date of payment into court (12 August 1999); Finley ordered to pay additional interest into court within 14 days; allocation of received sums confirmed; costs allocated between parties as set out in orders.
Legal Topics
Statutory Demand, Interest on Judgment Debts, Taxed Costs, Stay of Execution, Allocation of Appeal Costs, Bankruptcy Petition Costs
Source Language
EN
Bankruptcy Civil Procedure Costs Law Judgment Interest Statutory Demand Interest on Judgment Debts Taxed Costs Stay of Execution +2 more

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Parties

QUE JOCELYN CO trading as SCENTED DELIGHTS

Plaintiff / Judgment Debtor

BROADAIR EXPRESS LIMITED

Defendant / Petitioning Creditor

Mr Stephen Finley of Messrs Finley & Co.

Former Solicitor of Plaintiff; Judgment Debtor / Appellant

Procedural Posture

Civil Action (hca 3477/1996) and Related Bankruptcy Proceedings (hcb 612/1999); Appeal and Applications / Judgment on Applications Following Hearing (decision Dated 31 January 2000)

Legal Issues

  1. 1 Whether a statutory demand requires payment of interest accruing after issuance of the demand
  2. 2 Whether defendant is entitled to interest on taxed costs as of right under the costs judgment
  3. 3 From what date interest on costs should run and whether interest ceased on payment into court

Ratio Decidendi

The statutory demand does not, in the absence of express provision, entitle the creditor to interest accruing after issuance of the demand, but the defendant is entitled to interest as of right under the judgment for costs under s.49(1) High Court Ordinance; interest on the taxed costs runs from 29 April 1997 to the date of payment into court (12 August 1999) and no further interest is payable after payment into court; Mr Finley remains personally liable for the costs and interest to the extent of his original liability under the judgment.

Court Disposition

Order amended to provide interest on taxed costs at judgment rate from 29 April 1997 to date of payment into court (12 August 1999); Finley ordered to pay additional interest into court within 14 days; allocation of received sums confirmed; costs allocated between parties as set out in orders.

Orders

  • Finley to pay to the Plaintiff $254,431.83 being the taxed costs relating to the summons of 8 November 1996 and the interest thereof at judgment rate from 29 April 1997 to date of payment.
  • Upon payment in, the sum of $266,780.63 is to be paid to the Defendant in satisfaction of debt owing by the Plaintiff in Bankruptcy No.612 of 1999.