31 Mar 2006
RE ZHU KUAN (HONG KONG) CO LTD (IN LIQUIDATION)
- Citation
- RE ZHU KUAN (HONG KONG) CO LTD (IN LIQUIDATION)
- Court
- Court of First Instance
- Case number
- HCCW875/2003
The court refused to direct ZKHK's liquidators to pay fees and expenses incurred in the liquidations of ZKG and PIV out of ZKHK assets because it lacked jurisdiction to order one liquidation's funds to be applied to liabilities or remuneration of another without a statutory or established equitable mechanism; doing so would conflict with the principle of separate corporate personality and the statutory nature of the liquidator's powers. The alternative limited recourse loan proposal was also refused on the available material as inadequately defined, disproportionate to realizable assets, pote…