RE KEN FORWARD ENGINEERING LTD

RE KEN FORWARD ENGINEERING LTD

The arbitration award was due and unpaid; statutory demand and service were valid; formal defects alleged were immaterial; leave to appeal was denied at all levels; the company's asserted cross-claims were previously rejected in arbitration and were not bona fide to defeat the petition; supporting creditor had locus. Therefore the company is unable to pay its debts and a winding-up order must be made.

Citation
RE KEN FORWARD ENGINEERING LTD
Parties
Petitioner: Weltime Hong Kong Limited; Supporting Creditor: Victory Mark Investment Limited; Company (respondent): Ken Forward Engineering Limited; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
5 September 2003
Case Number
HCCW803/2002
Procedural Posture
Companies (winding Up) / Judgment
Outcome
Winding-up order made against Ken Forward Engineering Limited.
Legal Topics
Winding Up, Statutory Demand, Arbitration Award Enforcement, Leave to Appeal, Abuse of Process, Supporting Creditor Locus
Source Language
EN
Company Law Insolvency Arbitration Civil Procedure Winding Up Statutory Demand Arbitration Award Enforcement Leave to Appeal +2 more

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Parties

Weltime Hong Kong Limited

Petitioner

Victory Mark Investment Limited

Supporting Creditor

Ken Forward Engineering Limited

Company (respondent)

Official Receiver

Official Receiver

Procedural Posture

Companies (winding Up) / Judgment

Legal Issues

  1. 1 whether the company is unable to pay its debts
  2. 2 whether formal defects in petition/statutory demand are substantive
  3. 3 whether petitioner acted with improper motive or collusion

Ratio Decidendi

The arbitration award was due and unpaid; statutory demand and service were valid; formal defects alleged were immaterial; leave to appeal was denied at all levels; the company's asserted cross-claims were previously rejected in arbitration and were not bona fide to defeat the petition; supporting creditor had locus. Therefore the company is unable to pay its debts and a winding-up order must be made.

Court Disposition

Winding-up order made against Ken Forward Engineering Limited.

Orders

  • Winding-up order made against Ken Forward Engineering Limited
  • Costs of the petitioner and of the supporting creditor to be paid out of the Company\u2019s assets