20 Dec 2022
RE CA CULTURAL TECHNOLOGY GROUP LTD
- Citation
- [2022] HKCFI 3790
- Court
- Court of First Instance
- Case number
- HCCW190/2022
The court held the SA constituted a compromise that, on its proper construction, discharged the original debt on signing and obligated the Petitioner to withdraw the petition; the Petitioner’s continued pursuit of the petition after 1 June 2022 was an abuse of process and the petition was therefore liable to be struck out. Because a bona fide dispute was established on the debt, the court declined to entertain alternative insolvency arguments. The court also granted the validation order for the share transfer and refused leave for the Petitioner to file a further affirmation.