11 Mar 2020
SAFE CASTLE LTD v. CHINA SILVER ASSET MANAGEMENT (HONG KONG) LTD
- Citation
- [2020] HKCFI 406
- Court
- Court of First Instance
- Case number
- HCCW69/2019
The Company failed to demonstrate a bona fide defence on substantial grounds because material conditions precedent (notably reimbursement of costs under clause 2(6) and documentary evidence of registration/notification) were not established and acceptance of partial payments did not amount to an unequivocal waiver; the security held was manifestly insufficient to discharge the debt; accordingly a winding up order was made. On the bankruptcy petition the court found a material conflict of evidence about personal service of the statutory demand that could not be resolved on affidavit evidence a…