21 Jan 2019
RE K C K GARMENT FACTORY LTD
- Citation
- [2019] HKCFI 585
- Court
- Court of First Instance
- Case number
- HCCW300/2014
The liquidators failed to prove the requisite subjective desire to prefer the 1st respondent: the payments were made to reduce guarantors' contingent liabilities and to attempt to prolong the company's trading; evidence (including requests to extend the loans and lack of contemporaneous demands) was inconsistent with a desire to prefer the 1st respondent, so the summons against Hong Kong Construction Financing Limited is dismissed. Separately, where the presumption in s50(5) Cap 6 applies to payments to an associate (Apparel Partner Ltd) and relevant respondents did not contest, the declarati…