RE WO HING ENGINEERING LTD

RE WO HING ENGINEERING LTD

Winding-up order was made on HCCW No. 276/2003 because the petitioning debt was undisputed, demand had been made, the company was insolvent and provisional liquidators reported that a scheme of arrangement was not feasible; the later petition (HCCW No. 285/2003) was dismissed as it was presented later in time; costs were ordered against the company's assets where appropriate and a specified sum deducted from the petition deposit for Official Receiver's costs.

Citation
RE WO HING ENGINEERING LTD
Parties
Petitioner: Thermtech Building Products Ltd; Petitioner: Dah Sing Bank Ltd; Respondent: Wo Hing Engineering Ltd
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
26 May 2003
Case Number
HCCW276/2003
Procedural Posture
Companies (winding Up) / Judgment
Outcome
Winding-up order made on petition HCCW No. 276 of 2003 (Thermtech); HCCW No. 285 of 2003 (Dah Sing Bank) dismissed.
Legal Topics
Winding Up, Provisional Liquidator, Scheme of Arrangement, Costs
Source Language
EN
Company Law Insolvency Civil Procedure Winding Up Provisional Liquidator Scheme of Arrangement Costs

Case Brief

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Parties

Thermtech Building Products Ltd

Petitioner

Dah Sing Bank Ltd

Petitioner

Wo Hing Engineering Ltd

Respondent

Procedural Posture

Companies (winding Up) / Judgment

Legal Issues

  1. 1 Whether to make a winding-up order against the company
  2. 2 Validity and enforceability of the petitioning judgment debt
  3. 3 Feasibility of a scheme of arrangement and role of provisional liquidators

Ratio Decidendi

Winding-up order was made on HCCW No. 276/2003 because the petitioning debt was undisputed, demand had been made, the company was insolvent and provisional liquidators reported that a scheme of arrangement was not feasible; the later petition (HCCW No. 285/2003) was dismissed as it was presented later in time; costs were ordered against the company's assets where appropriate and a specified sum deducted from the petition deposit for Official Receiver's costs.

Court Disposition

Winding-up order made on petition HCCW No. 276 of 2003 (Thermtech); HCCW No. 285 of 2003 (Dah Sing Bank) dismissed.

Orders

  • Winding-up order on HCCW No. 276 of 2003 (Thermtech Building Products Ltd)
  • HCCW No. 285 of 2003 (Dah Sing Bank Ltd) dismissed