Hong Kong Case Law: Decisions & Judgments

Topic

Conversion to creditors' voluntary winding up

Legal area

Court

2 Sept 2016

RE SUNFILL LTD

Citation

RE SUNFILL LTD
Court

Court of First Instance
Case number

HCCW282/2013

Given that the sole creditor and shareholder supported the conversion, a resolution was duly passed on 14 June 2016 and the application was made within the statutory three month period, the company's assets are valuable and there is no need for further investigation or allegation of misconduct, the court exercised its discretion under s209A to order conversion and ordered the existing Liquidators to continue to act; no extension of time was required.
2 Mar 2015

RE MF GLOBAL HOLDINGS HK LTD

Citation

RE MF GLOBAL HOLDINGS HK LTD
Court

Court of Appeal
Case number

CACV252/2012

The definition of 'liquidator' in section 2(1) of the Companies Ordinance extends to all three types of provisional liquidators described in s194; accordingly the ad valorem fees under s296 and the Companies (Fees and Percentages) Order are payable on all realisations realised and brought to account by those provisional liquidators up to conversion to creditors' voluntary winding up, and the Official Receiver's appeal is allowed to that extent.
17 Sept 1998

IN RE PEREGRINE FIXED INCOME LTD. (IN LIQUIDATION)

Citation

IN RE PEREGRINE FIXED INCOME LTD. (IN LIQUIDATION)
Court

Court of First Instance
Case number

HCCW32/1998

The application to convert the compulsory winding up to a creditors' voluntary winding up is dismissed because the mandatory s.209A factors (public concern, ongoing need for investigation and the desirability of Official Receiver involvement) outweigh the creditors' preference and potential fee savings; conversion would improperly divest the court of necessary control.

Hong Kong Case Law

RE SUNFILL LTD

RE MF GLOBAL HOLDINGS HK LTD

IN RE PEREGRINE FIXED INCOME LTD. (IN LIQUIDATION)