18 Feb 2014
CHEN YUNG NGAI KENNETH (as the Liquidator of Hempstone Limited (in Compulsory Liquidation)) v. SHINEWING SPECIALIST ADVISORY SERVICES LTD
- Citation
- CHEN YUNG NGAI KENNETH (as the Liquidator of Hempstone Limited (in Compulsory Liquidation)) v. SHINEWING SPECIALIST ADVISORY SERVICES LTD
- Court
- Court of First Instance
- Case number
- HCCW279/2010
The court exercised its discretion to order interim payments despite no bank guarantee, using evidence of past taxation results and adjustments for disputed work to fix conservative interim sums: $3.75 million for Group 1 (50.56% of Group 1 bills) and $3.0 million for Group 2 (15.98% of Group 2 bills); payments to be made from the cash of Hempstone, De Rodeo, Senrich and Vinki within 28 days with directions to procure dividends if Hempstone lacked funds, and ancillary directions for disclosure and taxation steps.