RE DIPENDA LTD.

RE DIPENDA LTD.

The petitioning creditor proved a judgment debt and service of a statutory demand; the company failed to provide necessary information, produce a documented or viable rescue proposal, or demonstrate a good reason for further adjournment; accordingly the court concluded the company was unable to pay its debts and...

Source-derived case information.

Citation
RE DIPENDA LTD.
Parties
Petitioner: Bank of China (Hong Kong) Limited (successor to National Commercial Bank Limited); Company: Dipenda Limited; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
26 August 2002
Case Number
HCCW558/2002
Procedural Posture
Winding Up Petition (companies) / Judgment/decision
Outcome
Winding-up order made against Dipenda Limited
Legal Topics
Winding Up, Statutory Demand, Debt Enforcement, Adjournment
Source Language
en
Company Law Insolvency Civil Procedure Winding Up Statutory Demand Debt Enforcement Adjournment

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Parties

Bank of China (Hong Kong) Limited (successor to National Commercial Bank Limited)

Petitioner

Dipenda Limited

Company

Official Receiver

Official Receiver

Procedural Posture

Winding Up Petition (companies) / Judgment/decision

Legal Issues

  1. 1 Whether the company is unable to pay its debts and should be wound up
  2. 2 Whether there is a bona fide, documented proposal to avoid winding up sufficient to justify adjournment

Ratio Decidendi

The petitioning creditor proved a judgment debt and service of a statutory demand; the company failed to provide necessary information, produce a documented or viable rescue proposal, or demonstrate a good reason for further adjournment; accordingly the court concluded the company was unable to pay its debts and made a winding-up order.

Court Disposition

Winding-up order made against Dipenda Limited

Orders

  • Winding-up order against Dipenda Limited
  • Costs of the petition to be paid out of the Company's assets