23 Apr 2014
PEVONIA INTERNATIONAL LLC v. PEVONIA ASIA LTD
- Citation
- PEVONIA INTERNATIONAL LLC v. PEVONIA ASIA LTD
- Court
- Court of First Instance
- Case number
- HCCW417/2012
The court found the Company failed to show a bona fide defence on substantial grounds: the alleged 2009 understanding was not a binding contract between the Petitioner and the Company; the Petitioner validly held the debts (assignment supported and equitable estoppel applied because the Company repeatedly acknowledged and dealt with the Petitioner as creditor); the factual denials lacked credible supporting evidence; any cross-claim was quantitatively and evidentially insufficient to equal or exceed the petitioning debt; accordingly a winding-up order was made and costs ordered nisi to be pai…