19 Apr 2001
HEALTHY WHARF LTD. v. LEUNG YAT TUNG
- Citation
- HEALTHY WHARF LTD. v. LEUNG YAT TUNG
- Court
- Court of Appeal
- Case number
- CACV408/2001
The court dismissed the appeal and affirmed the bankruptcy order because the nominees had not conducted adequate investigations nor verified the debtor's statements (assets, dispositions into trusts, and liabilities); the debtor's disclosure was misleading and incomplete; material issues (possible voidable transfers under s49 and actual beneficial interest in trusts) required inquiry; and the proposal failed to specify timing of dividends rendering it not a sufficiently serious or viable proposal for the court to be satisfied that a creditors meeting should be summoned.