Re: LAM YING KIN and BANK OF CHINA (HONG KONG) LTD

Re: LAM YING KIN and BANK OF CHINA (HONG KONG) LTD

The court found the statutory requirements for the petitions and substituted service were satisfied, the alleged oral compromises lacked consideration and did not provide reasonable grounds to set aside the judgments, and accordingly bankruptcy orders should be made against each debtor with costs to the petitioner.

Citation
Re: LAM YING KIN and BANK OF CHINA (HONG KONG) LTD
Parties
Creditor: Bank of China (Hong Kong) Limited; Debtor: WONG WING KWONG; Debtor: YEUNG KIN; Debtor: LAM YING KIN; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
26 November 2001
Case Number
HCB6174/2001
Procedural Posture
Bankruptcy / Judgment on Bankruptcy Petitions
Outcome
Bankruptcy orders made against each of the three debtors
Legal Topics
Statutory Demand, Guarantee, Summary Judgment, Bankruptcy Order, Substituted Service, Oral Agreement to Vary Judgment
Source Language
EN
Bankruptcy Contract Civil Procedure Statutory Demand Guarantee Summary Judgment Bankruptcy Order Substituted Service +1 more

Case Brief

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Parties

Bank of China (Hong Kong) Limited

Creditor

WONG WING KWONG

Debtor

YEUNG KIN

Debtor

LAM YING KIN

Debtor

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy / Judgment on Bankruptcy Petitions

Legal Issues

  1. 1 Whether the judgments obtained against the debtors should be set aside
  2. 2 Whether alleged oral agreements to pay by instalments constituted a defence or compromise binding on the petitioner
  3. 3 Whether the petitions were properly served and whether bankruptcy orders should be made

Ratio Decidendi

The court found the statutory requirements for the petitions and substituted service were satisfied, the alleged oral compromises lacked consideration and did not provide reasonable grounds to set aside the judgments, and accordingly bankruptcy orders should be made against each debtor with costs to the petitioner.

Court Disposition

Bankruptcy orders made against each of the three debtors

Orders

  • Bankruptcy order made against WONG WING KWONG (HCB 6125/2001)
  • Bankruptcy order made against YEUNG KIN (HCB 6126/2001)