Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Liquidators' duties and investigations

Legal area

Court

10 May 2006

LAI CHEUNG WAI v. THE JOINT AND SEVERAL LIQUIDATORS OF STUTTGART INTERNATIONAL MOTORS (HOLDINGS) LTD

Citation

LAI CHEUNG WAI v. THE JOINT AND SEVERAL LIQUIDATORS OF STUTTGART INTERNATIONAL MOTORS (HOLDINGS) LTD
Court

Court of First Instance
Case number

HCCW494/2003

The winding-up was permanently stayed because the sole creditor's claim was settled and withdrawn, the liquidators reported no adverse findings and agreed to accept a specified security for costs, and the contributories presented a credible plan and funding to continue the business, thereby satisfying the court's discretion under s.209 to grant a stay.
6 Dec 1999

WOTTA CO. LTD. AND ANOTHER v. THOMAS BRIAN STEVENSON AND ANOTHER

Citation

WOTTA CO. LTD. AND ANOTHER v. THOMAS BRIAN STEVENSON AND ANOTHER
Court

Court of First Instance
Case number

HCMP3965/1999

The court granted a permanent stay because the applicants (the only members) demonstrated sufficient grounds: the company has a viable commercial purpose as foreign investor in prospective Indonesian operations, there are no unpaid creditors or liabilities, liquidation expenses are covered, the liquidators identified no irregularities and the Official Receiver does not oppose, and no public interest required refusal.