9 Feb 2017
OSMAN MOHAMMED ARAB AND WONG KWOK KEUNG, THE JOINT AND SEVERAL LIQUIDATORS OF KAM TOYS & NOVELTY MANUFACTURING LTD (IN CREDITORS’ VOLUNTARY LIQUIDATION) v. CASHBOX CREDIT SERVICES LTD
- Citation
- OSMAN MOHAMMED ARAB AND WONG KWOK KEUNG, THE JOINT AND SEVERAL LIQUIDATORS OF KAM TOYS & NOVELTY MANUFACTURING LTD (IN CREDITORS’ VOLUNTARY LIQUIDATION) v. CASHBOX CREDIT SERVICES LTD
- Court
- Court of First Instance
- Case number
- HCMP1908/2016
Although the Company was insolvent at the time of the Payment, the Applicants failed to prove that the directors were influenced by a subjective desire to improve the Respondent's position in event of the Company's insolvent liquidation; therefore the Payment was not an unfair preference and the Originating Summons is dismissed.