19 Jan 2011
BOLD WELL INDUSTRIAL LTD v. PLANET TOYS (HK) LTD
- Citation
- BOLD WELL INDUSTRIAL LTD v. PLANET TOYS (HK) LTD
- Court
- Court of First Instance
- Case number
- HCCW248/2009
The court allowed the appeals because the Tam Group had adopted a neutral stance (removing countervailing opposition), the wishes of substantial trade creditors in favor of appointing COIs should prevail over contributories in insolvent companies, the quality of those creditors and the evidence supported appointment to enable court supervision and avoid costly litigation; accordingly the Master's orders refusing COIs were set aside and 5-member COIs were ordered for each company with specified appointments.