RE WONG CHEONG FAT

RE WONG CHEONG FAT

The respondent failed to raise a dispute on substantial grounds: his allegations were bare, contradicted by contemporaneous documents and implausible; the settlement agreement created a new personal debt with adequate consideration; alleged illegality and collateral arrangements were unsupported; therefore a bankruptcy order was properly made in terms of the petition.

Citation
RE WONG CHEONG FAT
Parties
Petitioner: Lau Yee Lam; Judgment Debtor: Wong Cheong Fat
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
7 February 2001
Case Number
HCB2058/2000
Procedural Posture
Bankruptcy Petition / Judgment on Petition
Outcome
Bankruptcy order made in terms of the petition; costs awarded to the Petitioner
Legal Topics
Statutory Demand, Bankruptcy Order, Settlement Agreement, Derivative Action, Service by Advertisement, Sham Agreement, Consideration, Illegal Dividends
Source Language
EN
Bankruptcy Law Company Law Contract Law Civil Procedure Statutory Demand Bankruptcy Order Settlement Agreement Derivative Action +4 more

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Parties

Lau Yee Lam

Petitioner

Wong Cheong Fat

Judgment Debtor

Procedural Posture

Bankruptcy Petition / Judgment on Petition

Legal Issues

  1. 1 Whether a substantial dispute on the debt exists such that the bankruptcy petition should be dismissed
  2. 2 Whether the settlement agreement created a personal debt owed by the respondent
  3. 3 Whether the statutory demand was properly served and effective

Ratio Decidendi

The respondent failed to raise a dispute on substantial grounds: his allegations were bare, contradicted by contemporaneous documents and implausible; the settlement agreement created a new personal debt with adequate consideration; alleged illegality and collateral arrangements were unsupported; therefore a bankruptcy order was properly made in terms of the petition.

Court Disposition

Bankruptcy order made in terms of the petition; costs awarded to the Petitioner

Orders

  • Bankruptcy order in terms of the petition dated 7 February 2001
  • Costs to the Petitioner