20 Sept 2022
RE SAMWELL SPARE PARTS LTD (IN CREDITORS\' VOLUNTARY LIQUIDATION)
- Citation
- [2022] HKCFI 2851
- Court
- Court of First Instance
- Case number
- HCCW379/2021
Applying Re STX, the court ordered conversion because the petitioner was the majority independent creditor seeking an independent investigation into significant questionable related‑party transactions; the incumbent liquidator's appointment and conduct gave rise to legitimate perception concerns though not proven misconduct; alternative statutory routes to replace the liquidator were impractical or unavailable in the circumstances; on balance the interests of independent creditors and need for investigation justified compulsory winding up.