23 Dec 2002
Re Cheng Ka Lun Grand
- Citation
- Re Cheng Ka Lun Grand
- Court
- Court of First Instance
- Case number
- HCB17553/2002
The court was not satisfied that refusal of the debtor's offer was unreasonable: the payment proposed (US$1,000,000 — ~58% of the judgment) to be paid over more than two years exposed the creditor to risk and a reasonable creditor could properly refuse; accordingly a bankruptcy order was made against the debtor with costs to the petitioner.