11 Apr 2019
RE SIT KWONG LAM
- Citation
- [2019] HKCFI 920
- Court
- Court of First Instance
- Case number
- HCB6051/2018
Petition allowed and bankruptcy order made because the statutory demand was not set aside, there was no valid arbitration clause in the guarantor documents capable of preventing the petition (and any such clause would be unenforceable if it fettered statutory insolvency rights), the Debtor by signing the Settlement Agreement and executing the PG Addendum consented to the extension and remained liable as guarantor, and the Debtor’s evidence of imminent refinancing was speculative and insufficient to show a reasonable prospect of repayment within a reasonable time.