Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Creditors' voluntary winding-up

Legal area

Court

16 May 2001

ADONIS IP KAI KWONG v. CITIBANK OVERSEAS INVESTMENT CORPORATION AND ANOTHER

Citation

ADONIS IP KAI KWONG v. CITIBANK OVERSEAS INVESTMENT CORPORATION AND ANOTHER
Court

Court of First Instance
Case number

HCCW328/2001

The court granted a permanent stay of the creditors' voluntary winding-up because the liquidator discharged the burden: the delay was inadvertent, both shareholders consented, there were effectively no creditors and assets were sufficient to meet liabilities, the Official Receiver had no objection, and no public interest opposed the exercise of discretion—therefore it was just and beneficial to stay the winding-up.
25 Jan 1988

RE MOUNT EVEREST INVESTMENTS LIMITED

Citation

RE MOUNT EVEREST INVESTMENTS LIMITED
Court

Court of First Instance
Case number

HCCW249/1987

Although there were errors and some nondisclosures in the petitioner's affidavits, the company was insolvent and there was a real likelihood that assets were in jeopardy given the conduct of the controlling shareholder; urgency justified the ex parte appointment and the Official Receiver's appointment as provisional liquidator was therefore properly made and was not set aside.