RE FORTUNE FOUNTAIN CAPITAL LTD

RE FORTUNE FOUNTAIN CAPITAL LTD

Leave to file evidence out of time was refused because the affirmation did not satisfactorily explain delay or demonstrate a bona fide defence and the company could not provide security for costs; accordingly the court made the normal winding-up order against the company.

Citation
[2020] HKCFI 1968
Parties
Petitioner: Unnamed petitioner (represented by Allen & Overy); Respondent/company: Fortune Fountain Capital Limited; Interested Party: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
27 July 2020
Case Number
HCCW78/2020
Procedural Posture
Companies Winding Up / Hearing/decision (27 July 2020)
Outcome
Winding-up order made
Legal Topics
Statutory Demand, Leave to File Evidence Out of Time, Winding Up Order, Adjournment, Security for Costs
Source Language
EN
Company Law Insolvency Civil Procedure Winding Up Proceedings Statutory Demand Leave to File Evidence Out of Time Winding Up Order Adjournment +1 more

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Parties

Unnamed petitioner (represented by Allen & Overy)

Petitioner

Fortune Fountain Capital Limited

Respondent/company

Official Receiver

Interested Party

Procedural Posture

Companies Winding Up / Hearing/decision (27 July 2020)

Legal Issues

  1. 1 Whether to grant leave to file substantive evidence out of time
  2. 2 Whether the respondent demonstrated a bona fide defence on substantial grounds to the debt claimed
  3. 3 Whether a winding-up order should be made given the unpaid debt and absence of satisfactory opposition

Ratio Decidendi

Leave to file evidence out of time was refused because the affirmation did not satisfactorily explain delay or demonstrate a bona fide defence and the company could not provide security for costs; accordingly the court made the normal winding-up order against the company.

Court Disposition

Winding-up order made

Orders

  • Refused leave to file substantive evidence in opposition out of time
  • Made the normal winding-up order against Fortune Fountain Capital Limited