23 Sept 1974
RE ARTS KNITTING FACTORY LTD
- Citation
- RE ARTS KNITTING FACTORY LTD
- Court
- Court of First Instance
- Case number
- HCCW13/1972
The payment by the company to obtain release of goods distrained before the winding-up is to be treated as money paid under a charge and therefore, pursuant to s.265(5A) Companies Ordinance and given that preferential creditors had been paid, became a debt due from the company to the landlord; accordingly the Official Receiver's claim to the funds failed and the summons was dismissed.