RE TSANG WING LAM

RE TSANG WING LAM

The stay application was dismissed because the pending appeal was not shown to be bona fide or sufficiently arguable, the bankrupt failed to provide credible evidence of ownership or imminent receipt of sale proceeds of the alleged goods, the bankrupt had not cooperated with the Official Receiver or filed a Statement of Affairs, the bankruptcy order had been gazetted so there were no effective steps to stay, and granting a general stay would prejudice creditors and impede estate administration.

Citation
RE TSANG WING LAM
Parties
Petitioner: Petitioner; Bankrupt: Tsang Wing Lam; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
3 December 2013
Case Number
HCB1203/2013
Procedural Posture
Bankruptcy Petition / Application to Stay Execution of Bankruptcy Order (chambers Hearing)
Outcome
Stay application dismissed
Legal Topics
Stay of Execution, Appeal, Official Receiver Duties, Annulment of Bankruptcy, Vesting of Assets, Costs
Source Language
EN
Bankruptcy Insolvency Civil Procedure Creditors' Rights Stay of Execution Appeal Official Receiver Duties Annulment of Bankruptcy +2 more

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Parties

Petitioner

Petitioner

Tsang Wing Lam

Bankrupt

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy Petition / Application to Stay Execution of Bankruptcy Order (chambers Hearing)

Legal Issues

  1. 1 Whether a general stay of the execution of a bankruptcy order should be granted
  2. 2 Whether the pending appeal is bona fide and sufficiently arguable to justify a stay
  3. 3 Whether the alleged assets (goods) justify a stay or are vested in the Official Receiver

Ratio Decidendi

The stay application was dismissed because the pending appeal was not shown to be bona fide or sufficiently arguable, the bankrupt failed to provide credible evidence of ownership or imminent receipt of sale proceeds of the alleged goods, the bankrupt had not cooperated with the Official Receiver or filed a Statement of Affairs, the bankruptcy order had been gazetted so there were no effective steps to stay, and granting a general stay would prejudice creditors and impede estate administration.

Court Disposition

Stay application dismissed

Orders

  • Application dismissed with costs to the petitioner to be taxed if not agreed
  • No costs ordered against the bankrupt in favour of the Official Receiver