RE ICS COMPUTER DISTRIBUTION LTD

RE ICS COMPUTER DISTRIBUTION LTD

The Company failed to establish on the evidence a bona fide dispute on substantial grounds in respect of its principal cross-claims (delay, parallel imports, unmarketable stock); the documentary record contradicted the newly asserted contractual terms and the Company is insolvent; accordingly the winding-up petition succeeds and the Company must be wound up.

Citation
RE ICS COMPUTER DISTRIBUTION LTD
Parties
Company: ICS Computer Distribution Limited (formerly Cheflink Limited); Petitioner: Unnamed Petitioner (supplier); Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
13 May 1996
Case Number
HCCW615/1995
Procedural Posture
Companies (winding Up) Petition / Judgment on Petition and on Strike Out Application (winding Up Order)
Outcome
Petition allowed; order made that the Company be wound up
Legal Topics
Winding Up, Bona Fide Dispute, Set Off, Parallel Imports, Unmarketable Goods, Letters of Credit, Evidence Sufficiency
Source Language
EN
Company Law Insolvency Contract Law Civil Procedure Winding Up Bona Fide Dispute Set Off Parallel Imports +3 more

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Parties

ICS Computer Distribution Limited (formerly Cheflink Limited)

Company

Unnamed Petitioner (supplier)

Petitioner

Official Receiver

Official Receiver

Procedural Posture

Companies (winding Up) Petition / Judgment on Petition and on Strike Out Application (winding Up Order)

Legal Issues

  1. 1 Whether the Company has a bona fide dispute on substantial grounds as to the existence of the debt
  2. 2 Whether the Company adduced sufficiently precise factual evidence to resist the winding-up petition
  3. 3 Whether the Company is insolvent and thus should be wound up

Ratio Decidendi

The Company failed to establish on the evidence a bona fide dispute on substantial grounds in respect of its principal cross-claims (delay, parallel imports, unmarketable stock); the documentary record contradicted the newly asserted contractual terms and the Company is insolvent; accordingly the winding-up petition succeeds and the Company must be wound up.

Court Disposition

Petition allowed; order made that the Company be wound up

Orders

  • Order that ICS Computer Distribution Limited be wound up
  • Leave that the liquidator may bring such claims as he thinks proper in the liquidation