25 Jul 2019
YEUNG LUI MING AND LAI KAR YAN as the Joint and Several Trustees of the Property of WONG YUK TUNG (a bankrupt) v. TANG MO LIN, IRENE AND ANOTHER
- Citation
- [2019] HKCFI 1848
- Court
- Court of First Instance
- Case number
- HCA1197/2015
The court found on the evidence that the Agreement, the Deed and the transfer of the 38 cemetery sites were linked and formed one composite transaction entered into within two years of the presentation of the bankruptcy petition; Bright Success was the legal and beneficial owner of the 38 sites prior to transfer; the Perfecta group was insolvent or in dire financial distress at the relevant time; the consideration involved substantial set-offs of indebtedness and a cash portion but, viewed from the companys perspective, the transaction was at undervalue and therefore voidable under the insol…