17 May 1991
RE PHILIPP AND LION FAR EAST LTD
- Citation
- RE PHILIPP AND LION FAR EAST LTD
- Court
- Court of First Instance
- Case number
- HCCW130/1991
The application to discharge the provisional liquidator and special managers was dismissed because the petitioner established a strong prima facie case of insolvency, there were substantial contingent liabilities and credible evidence of real risk to the company's assets, and the prospect of trading out of difficulties was speculative and irrelevant for the court's insolvency assessment.