26 Jul 2000
HCK CHINA INVESTMENTS LTD. AND ANOTHER v. WAH NAM GROUP LTD.
- Citation
- HCK CHINA INVESTMENTS LTD. AND ANOTHER v. WAH NAM GROUP LTD.
- Court
- Court of First Instance
- Case number
- HCCW166/2000
The promissory-note documents were valid and enforceable as deeds (sealed and delivered) and thus enforceable without proof of consideration; the statutory demands adequately identified the debts and were valid under s178(1)(a); the Company failed to establish bona fide disputes or sufficient set-offs on substantial grounds and security was uncertain and likely inadequate; applying cash flow and balance sheet considerations the Company was insolvent and a winding-up order was warranted.