12 Jul 2024
RE LEE NIM WAI
- Citation
- [2024] HKCFI 1843
- Court
- Court of First Instance
- Case number
- HCB5893/2023
The court refused leave to file opposition out of time and refused to adjourn the petitions because the debtor failed to show good reason to extend time or to produce a valid, concrete and timely prospect of payment; the alleged US$750,000 was a future contingency not cash or a readily realisable asset in the debtor's hands and the SPA did not entitle the debtor to the claimed sums; therefore petitioners were entitled to an immediate bankruptcy order and Mitsubishi's costs should be treated as an expense of the bankruptcy.