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Hong Kong decisions
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The court rejected estoppel and unreasonable-refusal arguments, held the statutory demand and petition were effective despite an overstatement, and made winding-up and bankruptcy orders.
The Court of Appeal granted the defendant’s application for security for costs in a civil appeal, fixing security at HK$280,000 and staying the appeal pending payment.
The court refused a broad injunction restraining sale of company properties, but granted a notification order requiring 14 days’ written notice before any deal.
Petition for winding up of Psons Limited was granted after the court found no useful basis for a further adjournment and no substantive opposition to the debt.
The court refused further adjournment, found no concrete restructuring proposal, and made winding-up orders for five related companies while keeping the provisional liquidators in office.
The court made winding-up orders for five related companies after repeated adjournments failed to produce a concrete restructuring proposal.
The Court of First Instance made a consent restraint order against Charles Zhi, requiring leave before he could start fresh Hong Kong proceedings against SMG.
The court admitted Fameway Finance Limited to vote as an unsecured creditor for its shortfall and refused to dissolve the Committee of Inspection in Joy Rich Development Limited’s winding up.
The Court of First Instance refused the respondent’s application to file opposing evidence out of time, finding the delay unexplained and the excuses unparticularised.
The court dispensed with personal service of a disclosure order and directed substituted service, finding reasonable attempts had been made and evasion could be inferred.
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