22 Mar 2002
Re Chi Sun Co. Ltd.
- Citation
- Re Chi Sun Co. Ltd.
- Court
- Court of First Instance
- Case number
- HCCW175/2002
A validation order under s.182 was granted: payments into or out of the Company’s accounts with the Bank of East Asia and dispositions of property made in the ordinary course of business for proper value between presentation of the petition and its termination (or determination of any motion to strike out) are not void by virtue of s.182 in the event of a subsequent winding‑up, and the court will not require a pre‑approved schedule of individual payees and amounts; the bank is under no obligation to verify the ordinary course or market value of transactions.