Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Restriction notice under sfc ordinance

Legal area

Court

17 May 1999

In Re Foreground Securities Co. Ltd.

Citation

In Re Foreground Securities Co. Ltd.
Court

Court of First Instance
Case number

HCCW256/1999

The Labour Tribunal award was final and undisputed (no appeal); the SFC restriction did not prevent the company from seeking consent to satisfy the award and the company made no attempt to do so; absent any bona fide defence the court was entitled to make a winding-up order and to award costs including those of the earlier petition.
17 May 1999

In Re Foreground Securities Co. Ltd.

Citation

In Re Foreground Securities Co. Ltd.
Court

Court of First Instance
Case number

HCCW481/1998

The Labour Tribunal award was valid and unappealed, the SFC restriction notice did not preclude the Company from applying for consent to pay the award, and the Company failed to establish a bona fide defence or to seek SFC consent; therefore a winding-up order was warranted and the petitioner was entitled to costs including those of the earlier petition.