RE HORIZON GROUP INVESTMENTS LTD.

RE HORIZON GROUP INVESTMENTS LTD.

The Convention award qualified under Part IV of the Arbitration Ordinance and, by virtue of s42(2), could be relied upon as a defence or set-off; the company demonstrated a cross-claim/ set-off well in excess of the petitioning debt, therefore the winding-up petition must be dismissed.

Citation
RE HORIZON GROUP INVESTMENTS LTD.
Parties
Petitioner: Petitioner; Company (respondent): Horizon Group Investments Limited; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
13 May 2002
Case Number
HCCW109/2002
Procedural Posture
Companies (winding Up) / Petition Hearing — Judgment Handed Down
Outcome
Petition dismissed
Legal Topics
Winding Up, Statutory Demand, Set Off/cross Claim, Convention Award Enforcement
Source Language
EN
Company Law Arbitration Law Civil Procedure Winding Up Statutory Demand Set Off/cross Claim Convention Award Enforcement

Case Brief

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Parties

Petitioner

Petitioner

Horizon Group Investments Limited

Company (respondent)

Official Receiver

Official Receiver

Procedural Posture

Companies (winding Up) / Petition Hearing — Judgment Handed Down

Legal Issues

  1. 1 Whether the company was unable to pay its debts for the purposes of s177(1)(d) Companies Ordinance
  2. 2 Whether a Convention arbitration award can be relied upon as a defence or set-off against a winding-up petition
  3. 3 Whether the award had attained the status of a debt or money demand enforceable in Hong Kong

Ratio Decidendi

The Convention award qualified under Part IV of the Arbitration Ordinance and, by virtue of s42(2), could be relied upon as a defence or set-off; the company demonstrated a cross-claim/ set-off well in excess of the petitioning debt, therefore the winding-up petition must be dismissed.

Court Disposition

Petition dismissed

Orders

  • Petition dismissed with costs to the Company
  • Official Receiver's costs of HK$5,300.00 to be paid out of the petitioner's deposit