Hong Kong Case Law: Decisions & Judgments

Topic

Compulsory winding-up

Legal area

Court

6 Dec 2012

RE FULLBRIGHT CO LTD

Citation

RE FULLBRIGHT CO LTD
Court

Court of First Instance
Case number

HCCW208/2008

The court accepted that the settlement agreement, together with enforceable undertakings by the shareholders to manage and run the company, sufficiently discharged the applicant's burden under s209 and that the residual concerns (failure to produce some books and disposal to a connected company) were not sufficiently serious to defeat the stay; accordingly a permanent stay under s209 and a conditional release of the liquidators under s205 were ordered, with conditions including payment in full to the Commissioner and the Government and payment of Official Receiver's costs of HK$12,000 out of…
27 Feb 2002

Re Collections Interior Ltd.

Citation

Re Collections Interior Ltd.
Court

Court of First Instance
Case number

HCCW80/2001

No order was made to convert; the court retained control because Official Receiver investigations were ongoing, fraud and impropriety could not be ruled out, and the public interest and investigatory needs outweighed the creditors' desire to minimise Official Receiver fees; liberty was given to the liquidators to restore the application subject to undertakings.
27 Jun 1996

AUSTRALIAN TELEPHONE DISTRIBUTORS PTY LTD. (IN LIQUIDATION) v. GOLDEN ALWAYS LTD AND ANOTHER

Citation

AUSTRALIAN TELEPHONE DISTRIBUTORS PTY LTD. (IN LIQUIDATION) v. GOLDEN ALWAYS LTD AND ANOTHER
Court

Court of Appeal
Case number

CACV88/1996

The allocatur certified sum (HK$197,064.04) became immediately due and payable upon certification and the failure to serve a copy did not prevent the debt being created; notwithstanding that, the court exercised its discretion not to wind up the companies immediately but instead set aside the dismissal below and ordered that all further proceedings in both petitions be stayed on undertakings by the director to prosecute Golden's counterclaim and Paradigm's appeal, with liberty to the petitioning creditor to apply to lift the stay; no order as to costs of the appeal was made.
27 Jul 1992

SEALY BEDDING AND FURNITURE (HONG KONG) LTD. v. LANDTRADE ENGINEERING AND DEVELOPMENT CO. LTD.

Citation

SEALY BEDDING AND FURNITURE (HONG KONG) LTD. v. LANDTRADE ENGINEERING AND DEVELOPMENT CO. LTD.
Court

Court of First Instance
Case number

HCCW418/1991

Winding-up order granted because the petitioner held an undisputed judgment debt, the company was commercially insolvent, the proposed sale was speculative and unsupported by necessary documentation or valuations, key opposing creditors had conflicts and unexplained reductions suggesting preferential treatment, the directors' credibility was undermined, and there were prima facie grounds to investigate preferential payments and fraudulent trading; accordingly the court exercised its discretion to wind up.
25 Jul 1986

RE KING\'S DYEING & WEAVING FACTORY LTD

Citation

RE KING\'S DYEING & WEAVING FACTORY LTD
Court

Court of First Instance
Case number

HCCW217/1986

The Official Receiver was appointed as provisional liquidator effective 23 July 1986 because the petitioner had established prima facie insolvency and risk to assets, the directors effected a sudden and unexplained voluntary winding-up which did not demonstrate majority creditor support, and the Official Receiver was better placed to protect creditors' and workforce interests than the newly appointed voluntary provisional liquidators.

Hong Kong Case Law

RE FULLBRIGHT CO LTD

Re Collections Interior Ltd.

AUSTRALIAN TELEPHONE DISTRIBUTORS PTY LTD. (IN LIQUIDATION) v. GOLDEN ALWAYS LTD AND ANOTHER

SEALY BEDDING AND FURNITURE (HONG KONG) LTD. v. LANDTRADE ENGINEERING AND DEVELOPMENT CO. LTD.

RE KING\'S DYEING & WEAVING FACTORY LTD