4 Jul 2016
THE JOINT & SEVERAL LIQUIDATORS OF PLANET TOYS (HK) LTD (IN LIQUIDATION) v. DESMOND CHUNG SENG CHIONG AND ANOTHER
- Citation
- THE JOINT & SEVERAL LIQUIDATORS OF PLANET TOYS (HK) LTD (IN LIQUIDATION) v. DESMOND CHUNG SENG CHIONG AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCCW248/2009
The court held that respondents had no entitlement to retain and apply the Funds absent compliance with s.244 or taxation; taxation was necessary to legitimise the use of the Funds; accordingly applicants' costs of the three applications were to be paid out of the companies' estates, and respondents were ordered to pay the costs of the hearing because they declined a reasonable consent proposal.