RE NG SHUI CHEONG

RE NG SHUI CHEONG

The debt was established by summary judgment and a costs order which constitute prima facie evidence of indebtedness; the debtor failed to prove a bona fide dispute on substantial grounds or any fraud/collusion/miscarriage of justice to go behind the judgments; the issues were already determined at the set aside stage and res judicata applies; the debtor did not show reasonable prospects on appeal to justify a stay — therefore the petition succeeds and a bankruptcy order is made with costs to the petitioner.

Citation
[2021] HKCFI 703
Parties
Debtor: Ng Shui Cheong; Creditor (petitioner): Hao Tian International Securities Limited; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
19 March 2021
Case Number
HCB6985/2020
Procedural Posture
Bankruptcy Petition / Hearing Judgment
Outcome
Bankruptcy order made against Ng Shui Cheong
Legal Topics
Statutory Demand, Set Aside Application, Bankruptcy Order, Summary Judgment, Appeal, Res Judicata, Costs
Source Language
EN
Bankruptcy Civil Procedure Contract Debt Recovery Statutory Demand Set Aside Application Bankruptcy Order Summary Judgment +3 more

Case Brief

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Parties

Ng Shui Cheong

Debtor

Hao Tian International Securities Limited

Creditor (petitioner)

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy Petition / Hearing Judgment

Legal Issues

  1. 1 Whether the debtor has a bona fide dispute on substantial grounds to oppose the bankruptcy petition
  2. 2 Whether an alleged oral settlement discharged the judgment debt
  3. 3 Whether the statutory demand was defective under Bankruptcy Rules r48(5) (Cap 6A)

Ratio Decidendi

The debt was established by summary judgment and a costs order which constitute prima facie evidence of indebtedness; the debtor failed to prove a bona fide dispute on substantial grounds or any fraud/collusion/miscarriage of justice to go behind the judgments; the issues were already determined at the set aside stage and res judicata applies; the debtor did not show reasonable prospects on appeal to justify a stay — therefore the petition succeeds and a bankruptcy order is made with costs to the petitioner.

Court Disposition

Bankruptcy order made against Ng Shui Cheong

Orders

  • Bankruptcy order against Ng Shui Cheong
  • Costs to the Petitioner, to be taxed if not agreed, to be paid forthwith, with certificate for counsel