2 Jul 2010
LIN LESTER CHI KEE v. CHAN LEUK FU AND ANOTHER
- Citation
- LIN LESTER CHI KEE v. CHAN LEUK FU AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCCW293/2006
Application for a stay of winding up was dismissed because the court was not satisfied the Company could meet all its debts and liquidation costs even if the settlement were effective; additionally the proposed security to implement the settlement would constitute prohibited financial assistance under s47A and the Company could not realistically comply with the statutory exceptions (s47C or s47E), making implementation unworkable while in liquidation and defeating the basis for a stay.