RE LUI CHUN KIT

RE LUI CHUN KIT

The petition was dismissed because there exists a bona fide dispute on substantial grounds as to whether the loan was repaid; triable issues raised in HCMP 771/2023 as to repayment, the purpose of disputed payments and credibility of witnesses mean the summary bankruptcy procedure is unsuitable; the Personal Guarantee challenge was an abused/late argument and not determinative; accordingly the creditor's petition cannot succeed and costs are awarded to the debtor.

Citation
[2025] HKCFI 6194
Parties
Petitioner: Treasure Stars Investment Limited; Debtor: Lui Chun Kit; Borrower: Lu Ximao
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
10 December 2025
Case Number
HCB5816/2024
Procedural Posture
Bankruptcy Petition / Hearing and Judgment
Outcome
Petition dismissed
Legal Topics
Statutory Demand, Bona Fide Dispute on Substantial Grounds, Personal Guarantee, Set Aside Statutory Demand, Summary Judgment, Stay Pending Trial
Source Language
EN
Bankruptcy Contract Guarantee Civil Procedure Money Lenders Ordinance Statutory Demand Bona Fide Dispute on Substantial Grounds Personal Guarantee +3 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 5 Authorities cited 7 Party arguments 2 Amounts and remedies 3
Sign in to unlock

Parties

Treasure Stars Investment Limited

Petitioner

Lui Chun Kit

Debtor

Lu Ximao

Borrower

Procedural Posture

Bankruptcy Petition / Hearing and Judgment

Legal Issues

  1. 1 Whether there is a bona fide dispute on substantial grounds as to the petitioning debt (repayment)
  2. 2 Whether pending HCMP 771/2023 prevents adjudication of the petition
  3. 3 Whether the Personal Guarantee is enforceable

Ratio Decidendi

The petition was dismissed because there exists a bona fide dispute on substantial grounds as to whether the loan was repaid; triable issues raised in HCMP 771/2023 as to repayment, the purpose of disputed payments and credibility of witnesses mean the summary bankruptcy procedure is unsuitable; the Personal Guarantee challenge was an abused/late argument and not determinative; accordingly the creditor's petition cannot succeed and costs are awarded to the debtor.

Court Disposition

Petition dismissed

Orders

  • Petition dismissed
  • Treasure Stars Investment Limited to pay the costs of Mr Lui summarily assessed at HK$250000