Hong Kong Case Law: Decisions & Judgments

Topic

Costs in insolvency proceedings

Legal area

Court

24 Jul 2007

RE MOULIN GLOBAL EYECARE TRADING LTD

Citation

RE MOULIN GLOBAL EYECARE TRADING LTD
Court

Court of First Instance
Case number

HCCW471/2005

Interest on provable debts, including debts where interest is reserved or agreed, is provable and payable up to the dates specified in s.264A(2) and r.88 of the Companies Ordinance (in ordinary court windings, the date of the winding-up order). Foreign currency provable debts must be converted into Hong Kong dollars at the midpoint between selling and buying telegraphic transfer rates quoted by The Hong Kong Association of Banks on that same relevant date. Official Receiver's costs in this summons are not to be borne by the company's assets but by general revenue; applicants' costs are payabl…
29 Mar 2007

YUENG MAN LOONG MAXLY AND ANOTHER v. TSANG SAU HING BEATRICE AND OTHERS

Citation

YUENG MAN LOONG MAXLY AND ANOTHER v. TSANG SAU HING BEATRICE AND OTHERS
Court

Court of First Instance
Case number

HCCW130/2007

The application for inspection as framed under section 121 was legally defective because the documents sought were records of a joint venture/subsidiary rather than the Hong Kong company's own books; however, the company may have discovery obligations in the winding-up proceedings and the correct procedural route is to proceed under RHC Order 24. Accordingly the summons was allowed to be amended and the provisional liquidators were ordered to file an affidavit within 14 days identifying documents in the Company's possession, custody or control. The provisional liquidators' application for val…
24 Feb 2006

THE JOINT & SEVERAL LIQUIDATORS OF AKAI HOLDINGS LIMITED (IN COMPULSORY LIQUIDATION) v. [Respondents]

Citation

THE JOINT & SEVERAL LIQUIDATORS OF AKAI HOLDINGS LIMITED (IN COMPULSORY LIQUIDATION) v. [Respondents]
Court

Court of First Instance
Case number

HCCW50/2000

The judge was satisfied that the examinee, by reason of positions held in the group, could give meaningful assistance to the liquidators; despite absence of a supporting affidavit and voluntary willingness to attend, the court granted the summonses under s.221 as a precaution and ordered both oral examination and production of all relevant books and documents including electronic records, with costs of the application to be paid out of the relevant company's assets.
13 Jul 1990

RE RIGHT CENTRE CO LTD

Citation

RE RIGHT CENTRE CO LTD
Court

Court of First Instance
Case number

HCCW121/1990

The court exercised its discretion to make a compulsory winding-up order because the company's insolvency and the petitioner's debt were not disputed, the existing voluntary liquidator (Mr Wong) lacked required independence due to his prior role as director/shareholder and involvement in contested judicial review proceedings while the company was insolvent, and an independent liquidator was necessary to investigate potential misconduct and debts; opposing creditors' objections were unmeritorious and did not outweigh these considerations.

Hong Kong Case Law

RE MOULIN GLOBAL EYECARE TRADING LTD

YUENG MAN LOONG MAXLY AND ANOTHER v. TSANG SAU HING BEATRICE AND OTHERS

THE JOINT & SEVERAL LIQUIDATORS OF AKAI HOLDINGS LIMITED (IN COMPULSORY LIQUIDATION) v. [Respondents]

RE RIGHT CENTRE CO LTD