25 Oct 2013
The petition was struck out because it failed to aver any basis for the court to exercise jurisdiction over an unregistered overseas company and the leave to serve out of jurisdiction was obtained on an inapplicable basis; the defects were fundamental and inexcusable, justifying striking out with costs.
2 Aug 2004
The court held that Hong Kong had jurisdiction under section 327 because ZK Group had a sufficient connection to Hong Kong (direct and indirect shareholdings, subsidiaries, substantial loan facilities governed by Hong Kong law and receivables) and there was a reasonable possibility of benefit to creditors (potential recoveries and investigatory value, including challenges to share charges and use of s221 powers); accordingly the petition should not be struck out and the provisional liquidators' powers should not be restricted to local asset recovery.
30 Jun 2004
The petition was dismissed because the company demonstrated a bona fide and substantial dispute as to the debt supported by contemporaneous documents and evidence that could not be summarily rejected; alternatively, even if no bona fide dispute existed, the court would refuse to exercise its s.327 discretion because the company lacked sufficient connection with Hong Kong and there was no reasonable possibility of benefit to the petitioner since the principal assets and effective remedies lay in the PRC where Hong Kong liquidators would not be recognised.