13 Sept 2004
The court found on the evidence that the Company could not pay its debts — judgments were unsatisfied, execution and garnishee proceedings produced insufficient funds, the value of goods available under lien was inadequate, and the Company filed no evidence or effective defence — and therefore a winding‑up order was warranted.
13 Sept 2004
The court ordered each company wound up because the petitioner demonstrated outstanding indebtedness supported by assignment and notice and the companies admitted they would not oppose the petitions, entitling the court to make winding-up orders and direct costs to be paid out of company assets.
4 Aug 1986
Section 4 of the Bankruptcy Ordinance must be interpreted literally; a bankruptcy notice cannot be founded on two separate judgments because doing so would prejudice the debtor's rights (to satisfy one judgment or assert set-off/cross demands) and the defect is not merely formal or amendable; accordingly the amended bankruptcy notice founded on two judgments is invalid and must be set aside.