30 Nov 2005
RE LUEN YICK WATER & DRAINAGE WORKS LTD
- Citation
- RE LUEN YICK WATER & DRAINAGE WORKS LTD
- Court
- Court of First Instance
- Case number
- HCCW209/2002
The court granted sanction under section 199(1)(c) because the liquidators demonstrated a respectable and commercially sensible claim to recover HK$1.2M paid after the presentation of the petition, reasonable prospects of recovery (including identifiable assets of the payee), anticipated costs proportionate to the claim, and because the majority COI objections were not founded on reasons sufficient to outweigh the creditors' collective interest in pursuing recovery.