7 Jan 2016
TSOI KWONG SHI v. GUO XIN AND ANOTHER
- Citation
- TSOI KWONG SHI v. GUO XIN AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCCW227/2015
The application for a validation order was dismissed because the financial evidence was opaque, AFM failed to disclose revenue to a director, significant and unexplained expenditures and an inadequate showing of viability meant the court was not satisfied the validation order would be in the interests of the company or its creditors, and the undertaking offered did not allay the court's concerns about running down assets.