3 Feb 2023
JUST CLASSIC LTD v. EVERSHINE GROUP HOLDINGS LTD
- Citation
- [2023] HKCA 143
- Court
- Court of Appeal
- Case number
- CACV75/2022
The Court of Appeal allowed the appeal, set aside the dismissal below and ordered the Company to be wound up because the judge erred in treating misstatements in the statutory demand as fatal without exercising discretion; after accounting for admitted payments there remained a substantial undisputed debt (HK$8,754,110) and cogent evidence of insolvency, and the statutory-demand rules in bankruptcy do not preclude a winding up order where the company is unable to pay under s178(1)(a) and (c).