16 Nov 2018
RE SIU KONG FAI
- Citation
- [2018] HKCFI 2504
- Court
- Court of First Instance
- Case number
- HCB4243/2017
The Debtors' asserted crossclaim lacked substance because their evidence was outdated, speculative or relied on incorrect assumptions (notably a valid hotel licence). Independent professional valuations contemporaneous with the sale supported the sale price on appropriate forced-sale/repossession and market bases. The Receivers acted as agents of Kingsway and the Petitioner was not liable for any alleged undervalue. Therefore the petitions succeed and bankruptcy orders should issue.