Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Court discretion in winding up

Legal area

Court

29 Jan 2008

RE ORIENT POWER HOLDINGS LTD

Citation

RE ORIENT POWER HOLDINGS LTD
Court

Court of First Instance
Case number

HCCW191/2007

Where the court is satisfied on the facts that the conflicts inherent in appointing a privately appointed receiver as liquidator can be effectively managed by concrete safeguards (curtailed powers, exercise of relevant powers only with approval of independent liquidators and/or court sanction, protections on information sharing), and where appointment is supported by creditors and promotes efficient, cost‑effective investigation in the interests of the winding up, the court may appoint the receiver as a liquidator; on these special facts the court appointed Mr Sutton jointly with two independ…
9 Jan 2003

RE LUEN YICK WATER & DRAINAGE WORKS LTD.

Citation

RE LUEN YICK WATER & DRAINAGE WORKS LTD.
Court

Court of First Instance
Case number

HCCW209/2002

Given the company is insolvent and there was a clear majority in value of admitted proofs in favour of Messrs Borrelli and Kennedy, and no evidence of unfitness or conflict, the court appointed Borrelli and Kennedy as joint and several liquidators; the court exercised its discretion to appoint a five‑member committee of inspection representative of creditor interests and ordered ancillary measures including security, remuneration mechanism, advertising and treatment of costs as liquidation expenses.