RE LEE, YUK LUN

RE LEE, YUK LUN

The Debtor established a bona fide dispute on substantial grounds because he produced cogent evidence of a Settlement Agreement manifested by documentary proof of transfer of 5 million shares and a stop payment instruction, and the Petitioner elected not to file any evidence to rebut those facts; therefore the bankruptcy petition was dismissed.

Citation
[2026] HKCFI 2365
Parties
Petitioner: YIU, Tommy Kwok Ming (姚國銘); Debtor: Lee, Yuk Lun (李鋈麟); Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
30 April 2026
Case Number
HCB8823/2025
Procedural Posture
Bankruptcy Petition / First Hearing of Petition (initial Hearing on Petition Dated 17 November 2025)
Outcome
Petition dismissed
Legal Topics
Statutory Demand, Cheque Dishonour, Settlement Agreement, Bona Fide Dispute, Willful Default, Setting Aside Statutory Demand, Summary Determination on Petition, Transfer of Shares
Source Language
EN
Bankruptcy Law Commercial Law Contract Law Bills of Exchange/cheque Law Statutory Demand Cheque Dishonour Settlement Agreement Bona Fide Dispute +4 more

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Parties

YIU, Tommy Kwok Ming (姚國銘)

Petitioner

Lee, Yuk Lun (李鋈麟)

Debtor

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy Petition / First Hearing of Petition (initial Hearing on Petition Dated 17 November 2025)

Legal Issues

  1. 1 Whether the debtor has raised a bona fide dispute on substantial grounds to resist the bankruptcy petition
  2. 2 Whether a purported full and final settlement (including transfer of shares and stop payment instruction) discharged the obligation represented by the cheque
  3. 3 Whether the cheque, as a bill of exchange, is conclusive absent evidence of release or settlement of underlying obligations

Ratio Decidendi

The Debtor established a bona fide dispute on substantial grounds because he produced cogent evidence of a Settlement Agreement manifested by documentary proof of transfer of 5 million shares and a stop payment instruction, and the Petitioner elected not to file any evidence to rebut those facts; therefore the bankruptcy petition was dismissed.

Court Disposition

Petition dismissed

Orders

  • Bankruptcy petition dismissed
  • Costs awarded to the Debtor