5 Mar 1998
The Hong Kong & Shanghai Banking Corporation Ltd. v. K & R Wong Construction Co. Ltd.
- Citation
- The Hong Kong & Shanghai Banking Corporation Ltd. v. K & R Wong Construction Co. Ltd.
- Court
- Court of First Instance
- Case number
- HCCW594/1997
Because the petitioner held charges over third-party properties rather than company property it was not a 'secured creditor' under the companies legislation; opposing creditors failed to produce substantive reasons or evidence to displace the petitioning creditor's prima facie entitlement and the charged assets' valuations were insufficient and unlikely to be realised, the court exercised its discretion to make a winding-up order.