17 Jul 2002
Re King Pacific International Holdings Ltd.
- Citation
- Re King Pacific International Holdings Ltd.
- Court
- Court of First Instance
- Case number
- HCCW164/2002
The court is bound by the Court of Appeal in Bank Negara Indonesia v. Interasian Traders Finance Ltd and holds it lacks jurisdiction to grant a stay of winding-up proceedings pending appeal on an application by the Company; accepting the two additional applicants as creditors with locus under s.209, the court exercised its discretion and found no special circumstances (the investor proposal was preliminary, Official Receiver not engaged, no urgent steps taken) to depart from the established practice of refusing stays in winding-up appeals, and therefore dismissed the application.