7 Mar 2025
A validation order was granted under section 182 Cap.32 because allowing the joint venture parties to complete the construction contract was in the best interests of the company's unsecured creditors by maximising the prospect of profit and avoiding increased liabilities; the application was unopposed and consistent with Re Hsin Chong.
29 Jul 2021
The permanent stay was granted because the evidence demonstrated the company is balance-sheet solvent, there are no unpaid creditors or outstanding matters requiring investigation by the liquidators, and the statutory and case law criteria for a stay (protection of creditors, members and public interest, and provision for liabilities) were satisfied.
5 Jun 2020
A stay pending appeal was refused because the established practice is to rarely grant stays of winding-up orders where creditors' interests would be prejudiced; the opposing contributory failed to show it could meet the disputed debt or that creditors would not be harmed, and it did not demonstrate strong prospects of success on the central contractual issue (clause 2(6)).
4 Jul 2019
Because the working relationship between the joint trustees had irretrievably broken down, the court concluded under section 96(2)(e) of the Bankruptcy Ordinance that the interests of the creditors required the respondent's removal and the appointment of the proposed replacement; misconduct and incapacity allegations were not determined as they were unnecessary to the decision.
1 Jun 2017
Where trustees have reasonably assessed a bankrupt's living expenses and the bankrupt fails to produce supporting documentary evidence that the allowance is inadequate, the court will not disturb the trustees' assessment except to the limited extent warranted by a demonstrated change in circumstances; an increase may be granted only to the extent that it does not unjustly prejudice creditors.
8 May 2017
The court found on the balance of probabilities that despite the Respondent making mortgage payments the parties intended joint beneficial ownership; the bankrupt’s interest had vested in the trustees and the joint tenancy was severed, and after balancing the Respondent's personal circumstances against the creditors' interests the court ordered sale and equal division of net proceeds, as sale would not cause very great hardship outweighing creditors' rights.
29 Apr 2016
The court granted the stay because the applicant satisfied the burden under s209(1): creditors had been paid or debts novated, the restructuring would return the company to solvency, liquidation expenses were provided for, the liquidators and Official Receiver raised no objection, the stay served a sensible and discernible commercial purpose and benefited creditors and shareholders without offending public interest or commercial morality.
16 Dec 2014
The court granted validation of the transfer because the shares were fully paid and there was no realistic risk that registration would prejudice creditors in the event of a winding-up; the proper test is the impact on creditors, not the commercial desirability of the transferee.
28 Dec 2009
The bankruptcy order was made because the judgment debtor failed to demonstrate that staying the petition was the only rational decision; he did not provide sufficient documentary evidence to show that pursuing the claim against Richards Butler would clearly benefit creditors, and the Official Receiver can assess and pursue the claim after bankruptcy.
9 Sept 2009
Validation granted because the restructuring was supported by creditors representing an overwhelming majority of known liabilities, the SPV's assets and the debenture would be funded by the lender without encumbering company assets, the working capital contribution was small and unsecured, liquidation would likely yield nil to unsecured creditors, and the petitioner offered no intelligible reason to insist on immediate winding up.