Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Evidence of solvency requirement

Legal area

Court

16 Feb 2011

RE CHEUNG KEE SEA PRODUCTS LTD

Citation

RE CHEUNG KEE SEA PRODUCTS LTD
Court

Court of First Instance
Case number

HCMP2255/2010

The court held that the mandatory practice of requiring an officer of the assignor company to depose to solvency and absence of winding up is unnecessary; evidence from the applicant explaining the failure to register and stating it has no reason to believe the assignor will be wound up suffices, and accordingly granted the requested 28 day extension to register the assignments.
16 Feb 2011

RE JASUKA INDUSTRIES (HKSAR) LTD

Citation

RE JASUKA INDUSTRIES (HKSAR) LTD
Court

Court of First Instance
Case number

HCMP2259/2010

It is not necessary in every case for the assignor company to file evidence addressing solvency and prospects of winding-up; instead the applicant must file evidence explaining the circumstances of the failure to register the charge and stating that it has no reason to believe the assignor is likely to be put into liquidation. Applying that principle, the court granted the 28 day extension sought.