26 Feb 2001
PERIWIN DEVELOPMENT LTD. v. GRANDFIELD PACIFIC HOTEL LTD.
- Citation
- PERIWIN DEVELOPMENT LTD. v. GRANDFIELD PACIFIC HOTEL LTD.
- Court
- Court of First Instance
- Case number
- HCCW29/2001
The court holds it has jurisdiction to direct provisional liquidators to cease trading if expedient; after removing an unnecessary provision for provisional liquidators' legal costs and adopting the Company's updated booking figures the short-term cash shortfall to continue trading to end-April was approximately HKD808,452, rounded to HKD800,000; provisional liquidators are authorized to cease hotel operations unless additional funding of HKD800,000 is provided, but that authorization is deferred to take effect only after determination of the discharge application on 7 March 2001.