16 Nov 2018
RE SHIU KWONG MAN JIMMY
- Citation
- [2018] HKCFI 2504
- Court
- Court of First Instance
- Case number
- HCB4242/2017
The Debtors' alleged crossclaim lacked substance because the evidence of undervalue was either out of date, premised on incorrect assumptions (eg existence of a hotel licence), speculative or unsupported (eg unnamed prospective bidder, unsigned letters of intent, internet advertisement). Independent contemporaneous valuations by reputable surveyors supported the sale price on the appropriate repossession/forced‑sale or market bases, and the sale was conducted by professional receivers acting as agents of the charged company; therefore the Petitioner was not liable for any alleged undervalue.…