RE LI MAN HOO

RE LI MAN HOO

The petition is dismissed because the statutory demand and petition relied on incorrect figures affecting a substantial portion of the claimed debt and the petitioner failed to discharge its burden under Rule 70 to prove matters the debtor had put in dispute, establishing a bona fide dispute on the debt.

Citation
[2020] HKCFI 1354
Parties
Petitioner: FTLife Insurance Company Limited; Debtor: Li Man Hoo
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
29 June 2020
Case Number
HCB802/2018
Procedural Posture
Bankruptcy Petition / Substantive Hearing and Judgment
Outcome
Petition dismissed
Legal Topics
Statutory Demand, Set Off/offset, Bona Fide Dispute, Conclusive Evidence Clause, Rule 70 Burden of Proof, Termination Consequences
Source Language
EN
Bankruptcy Insolvency Contract Law Debt Recovery Statutory Demand Set Off/offset Bona Fide Dispute Conclusive Evidence Clause +2 more

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Parties

FTLife Insurance Company Limited

Petitioner

Li Man Hoo

Debtor

Procedural Posture

Bankruptcy Petition / Substantive Hearing and Judgment

Legal Issues

  1. 1 Whether there was a bona fide dispute on the debt specified in the statutory demand and petition
  2. 2 Whether the statutory demand and petition were defective by relying on incorrect figures
  3. 3 Whether the petitioner discharged the burden under Rule 70 to prove matters the debtor disputed

Ratio Decidendi

The petition is dismissed because the statutory demand and petition relied on incorrect figures affecting a substantial portion of the claimed debt and the petitioner failed to discharge its burden under Rule 70 to prove matters the debtor had put in dispute, establishing a bona fide dispute on the debt.

Court Disposition

Petition dismissed

Orders

  • Costs order nisi: petitioner to pay the costs of the petition to the debtor to be assessed by gross sum assessment
  • Debtor to submit statement for gross sum assessment within 3 days of judgment