26 Mar 2004
JADE ELECTRONICS CO LTD v. CEDAR BASE ELECTRONIC LTD
- Citation
- JADE ELECTRONICS CO LTD v. CEDAR BASE ELECTRONIC LTD
- Court
- Court of First Instance
- Case number
- HCCW284/2003
The court found the allegation that the corporate guarantee operated as an escrow to be incredible on the evidence, held there was no bona fide dispute of the petitioning debt on substantial grounds, concluded the company was unable to pay its debts on the available financial accounts and therefore made a winding-up order against the company, refused adjournment or stay and ordered costs to be paid from the company's assets.