18 Nov 2024
RE HSIN CHONG CONSTRUCTION (ASIA) LTD (IN LIQUIDATION)
- Citation
- [2024] HKCFI 3310
- Court
- Court of First Instance
- Case number
- HCCW316/2018
Payments totalling HK$11,295,350 made by the Respondent to Cogent Spring after presentation of the winding up petition were, in substance, dispositions of the Company's property within s182 CWUO and therefore void; the court has jurisdiction to make an immediate payment order to correct a wrongful disposition where appropriate; agency/rationales pleaded could not rebut the substance that the Company's free assets were dissipated to a third party and the Respondent failed to show entitlement to a validating order or applicable mutual insolvency set-off, so repayment to the liquidators was orde…