Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Guaranteed income agreement

Legal area

Court

3 Dec 2001

Re: Leon Valiant Scheman and Ex Parte: CMG Asia Ltd

Citation

Re: Leon Valiant Scheman and Ex Parte: CMG Asia Ltd
Court

Court of First Instance
Case number

HCB2407/2001

Given that a statutory demand had been served, the petition was filed and the debtor admitted the debt at the hearing, the court was satisfied a bankruptcy order should be made and accordingly made the order with costs.
8 Nov 2001

RE: CHOW YUEN MAN and EX PARTE: CMG ASIA LTD.

Citation

RE: CHOW YUEN MAN and EX PARTE: CMG ASIA LTD.
Court

Court of First Instance
Case number

HCB753/2001

Petitioner failed to establish on the available evidence that the debtor had 'joined' Aetna within the relevant 12-month period such that the excess guaranteed income was payable at the date of the statutory demand; registration alone was insufficient proof and the undisputed loan balance was below the bankruptcy threshold, therefore the petition based on that statutory demand must be dismissed.