19 May 2022
RE NERICO BROTHERS LTD
- Citation
- [2022] HKCFI 1487
- Court
- Court of First Instance
- Case number
- HCCW47/2022
Because the debt was undisputed and the statutory demand remained unsatisfied such that the company was deemed insolvent under s.178(1) CWUO, and because the company's repayment proposals were neither precise nor credible and management had caused removal of the funds and failed to recover them, the court was compelled to make a winding up order against the company.