RE LI, CHUNG YAN HILDA

RE LI, CHUNG YAN HILDA

Debtors failed to establish a bona fide defence on substantial grounds and failed to show ability or reasonable prospect of being able to pay the debt; the bank, holding a third‑party government guarantee, remains entitled to pursue the guarantors and is not a secured creditor under the Ordinance, therefore bankruptcy orders (order nisi) were granted against the debtors and the petitions were not adjourned further.

Citation
RE LI, CHUNG YAN HILDA
Parties
Petitioner: The Hongkong and Shanghai Banking Corporation Limited; Debtor: Mann, Kevin Patrick; Debtor: Li, Chung Yan Hilda
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
24 March 2015
Case Number
HCB8025/2013
Procedural Posture
Bankruptcy Proceedings (petitions) / Hearing and Judgment (order Nisi for Bankruptcy Made)
Outcome
Usual bankruptcy order nisi made against Kevin Patrick Mann and Chung Yan Hilda Li; costs nisi in favour of the Bank
Legal Topics
Statutory Demand, Bankruptcy Petition, Bona Fide Defence, Special Loan Guarantee Scheme, Adjournment/stay, Substituted Service
Source Language
EN
Bankruptcy Contract Guarantee Civil Procedure Statutory Demand Bankruptcy Petition Bona Fide Defence Special Loan Guarantee Scheme +2 more

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 13 Party arguments 2 Amounts and remedies 4
Sign in to unlock

Parties

The Hongkong and Shanghai Banking Corporation Limited

Petitioner

Mann, Kevin Patrick

Debtor

Li, Chung Yan Hilda

Debtor

Procedural Posture

Bankruptcy Proceedings (petitions) / Hearing and Judgment (order Nisi for Bankruptcy Made)

Legal Issues

  1. 1 Whether the petitioning creditor is entitled to bankruptcy orders for non-compliance with statutory demands
  2. 2 Whether the debtors have a bona fide defence on substantial grounds to oppose the petitions
  3. 3 Whether the petitions should be stayed or adjourned pending related Australian litigation

Ratio Decidendi

Debtors failed to establish a bona fide defence on substantial grounds and failed to show ability or reasonable prospect of being able to pay the debt; the bank, holding a third‑party government guarantee, remains entitled to pursue the guarantors and is not a secured creditor under the Ordinance, therefore bankruptcy orders (order nisi) were granted against the debtors and the petitions were not adjourned further.

Court Disposition

Usual bankruptcy order nisi made against Kevin Patrick Mann and Chung Yan Hilda Li; costs nisi in favour of the Bank

Orders

  • Usual bankruptcy order against Kevin Patrick Mann and Chung Yan Hilda Li (order nisi)
  • Order nisi that costs of each Petition, including all costs reserved, be to the Bank