16 Jul 2014
RE YUESHOU ENVIRONMENTAL HOLDINGS LTD
- Citation
- RE YUESHOU ENVIRONMENTAL HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCCW142/2013
The company failed to demonstrate a bona fide defence on substantial grounds. The 16 May 2012 Indebtedness Repayment Extension Agreement created an independent, enforceable right to payment of the indebtedness; the company's attacks on authenticity and validity of earlier Service Agreement and Deed of Indemnity were unconvincing and speculative. After credit for $1,000,000 received by the petitioner, $1,805,586.92 remains indisputably due. The summons to strike out the petition is dismissed and the petition is to be relisted.