Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Solvency test

  • 6 Aug 2009

    RE SFA (HK) LTD

    Citation
    RE SFA (HK) LTD
    Court
    Court of First Instance
    Case number
    HCMP1190/2009

    The court confirmed the capital reduction because the reduction served a discernible commercial purpose, the company remained solvent after the reduction, creditors had been informed and raised no objection so their interests were adequately safeguarded, and shareholders were treated equitably; accordingly the court made the order in terms of the amended draft and upheld the earlier dispensation of s59(2) requirements.

  • 20 Oct 2006

    RE DIYON DEVELOPMENT LTD

    Citation
    RE DIYON DEVELOPMENT LTD
    Court
    Court of First Instance
    Case number
    HCCW178/2006

    The court was satisfied on balance sheet evidence, undertakings, and recent loan facilities that the Company is solvent and that the petitioning creditor's and supporting creditors' claims were paid or adequately provided for; the Official Receiver reported no need for investigation and the late, small-value claims did not undermine the accounts; accordingly the court exercised its jurisdiction to rescind the unsealed winding-up order and dismissed the petition.