30 Nov 2020
WING HONG CONSTRUCTION LTD v. HUI CHI YUNG AND OTHERS
- Citation
- [2020] HKCFI 2985
- Court
- Court of First Instance
- Case number
- HCA1423/2015
On the evidence the court found that CNCG provided continuous and substantial financial support to Wing Hong such that Wing Hong was neither insolvent nor likely to become insolvent as at 31 May 2008 or during the Relevant Period; accordingly the creditors' interests duty was not triggered, the floating charge was properly treated as created and registered, the Transfers were repayments of genuine intercompany loans and the Defendant Directors did not breach fiduciary duties; knowing receipt and CPO s.60 claims therefore fail and the plaintiff's claims are dismissed.