RE LI CHI HO

RE LI CHI HO

Given the debtor's history of failing to make punctual instalment payments and the insufficiency of his proposed payment (HK$2,000/month) against indebtedness of over HK$1 million, the petitioner's refusal to accept the compromise was within the range of reasonable responses; a bankruptcy order should be made.

Citation
RE LI CHI HO
Parties
Petitioner / Judgment Creditor: Bank of Communications; Debtor: Li Chi Ho; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
18 March 2002
Case Number
HCB10975/2001
Procedural Posture
Bankruptcy Petition / Hearing and Judgment (court of First Instance)
Outcome
Bankruptcy order made against Li Chi Ho
Legal Topics
Statutory Demand, Bankruptcy Petition, Offer to Compound/compromise, Reasonableness of Creditor's Refusal Under S6 D(3)
Source Language
EN
Bankruptcy Insolvency Civil Procedure Debt Enforcement Statutory Demand Bankruptcy Petition Offer to Compound/compromise Reasonableness of Creditor's Refusal Under S6 D(3)

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Parties

Bank of Communications

Petitioner / Judgment Creditor

Li Chi Ho

Debtor

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy Petition / Hearing and Judgment (court of First Instance)

Legal Issues

  1. 1 Whether the creditor unreasonably refused the debtor's offer to compound under s6D(3) of the Bankruptcy Ordinance
  2. 2 Whether a bankruptcy order should be made given the debtor's past repayment history and present ability to pay

Ratio Decidendi

Given the debtor's history of failing to make punctual instalment payments and the insufficiency of his proposed payment (HK$2,000/month) against indebtedness of over HK$1 million, the petitioner's refusal to accept the compromise was within the range of reasonable responses; a bankruptcy order should be made.

Court Disposition

Bankruptcy order made against Li Chi Ho

Orders

  • Bankruptcy order made against the debtor Li Chi Ho
  • Costs awarded to the petitioner