28 Jul 2021
PATRICK COWLEY AND ANOTHER (The Joint and Several Trustees in Bankruptcy of the Property of the Bankrupt) v. ALL POWERFUL HOLDING LTD AND ANOTHER
- Citation
- [2021] HKCFI 2132
- Court
- Court of First Instance
- Case number
- HCB104/2017
The court varied the freezing order only to permit limited exceptions: HK$25,000 per month for the 2nd Respondent's administrative costs and a lump sum of HK$750,000 for future legal expenses. The court refused the large repayment to alleged creditors and the larger administrative and legal sums because the 2nd Respondent is insolvent, failed to prove the validity and ordinary‑course nature of the claimed debts, the creditors are closely associated with the Bankrupt creating a real risk of dissipation, and the evidential basis for quantum was unsatisfactory. The court allowed a modest legal e…