2 Jul 2025
RE GOLDSTONE HOLDINGS LTD
- Citation
- [2025] HKCFI 2778
- Court
- Court of First Instance
- Case number
- HCCW609/2024
The petition was dismissed because there existed a bona fide dispute on substantial grounds as to whether the petitioner had an immediately payable debt: the payment was made under a subsisting subscription contract, there was no clear demonstrated total failure of consideration, repudiation and entitlement to terminate were not established as a matter for summary proceeding, and the company raised an arguable change‑of‑position defence; accordingly the statutory demand did not establish insolvency for winding‑up purposes.