Hong Kong Case Law: Decisions & Judgments

Topic

Insolvency determination

Legal area

Court

24 Feb 2025

RE HNA GROUP (INTERNATIONAL) COMPANY LTD (formerly known as HNA GROUP (HONG KONG) HOLDING CO LTD and HNA GROUP INTERNATIONAL HEADQUARTER (HONG KONG) CO LTD

Citation

[2025] HKCFI 811
Court

Court of First Instance
Case number

HCCW250/2024

The court made a winding-up order because the Company was deemed insolvent for failing to comply with the statutory demand and filed no evidence to establish a bona fide dispute or means to pay; the court retained jurisdiction to grant the order despite an earlier petition where the petitioner was unaware of that earlier petition and where immediate winding-up better served the interests of creditors and the operation of avoidance provisions.
29 Sept 2023

WAN TAI INVESTMENTS LTD v. TEMPUS HOLDINGS LTD

Citation

[2023] HKCFI 2513
Court

Court of First Instance
Case number

HCCW259/2023

The Debt was due and payable and the Company was unable to pay (thus deemed insolvent under s.178(1)(a) Cap.32); the Company failed to file timely or adequate evidence opposing the petition and its purported restructuring Plan was incomplete, unsupported by the petitioner and lacked necessary terms or creditor support; accordingly there were no valid grounds to adjourn and a winding-up order was required and was made.
10 Apr 2018

GALLERIA (HONG KONG), LIMITED (IN COMPULSORY LIQUIDATION) AND ANOTHER v. DBS BANK LTD., HONG KONG BRANCH

Citation

[2018] HKCFI 773
Court

Court of First Instance
Case number

HCCL4/2016

The court appointed a single joint insolvency expert to cover the periods identified by Galleria HK and directed the parties to agree directions because insolvency is a straightforward accounting issue susceptible to joint expert assessment; the court refused leave to adduce expert evidence on trade finance and credit banking practice because it was not shown to be necessary or likely to assist the tribunal given the available documentary and witness evidence and the speculative nature of the proposed expert opinions.
20 Jun 2016

HSIN KUANG RESTAURANT (INVESMENT & MANAGEMENT) LTD v. ABERDEEN HSIN KUANG RESTAURANT LTD

Citation

HSIN KUANG RESTAURANT (INVESMENT & MANAGEMENT) LTD v. ABERDEEN HSIN KUANG RESTAURANT LTD
Court

Court of First Instance
Case number

HCCW94/2016

Because the petitioner established a significant debt supporting insolvency, the opposing contributory held only a minimal interest and failed to present or identify anything likely to amount to a bona fide defence on substantial grounds, and because Rule 32 timelines had passed, the court refused the extension and made the winding-up order.
8 Apr 2013

RE GRAND CHINA SHIPPING (HONG KONG) CO LTD

Citation

RE GRAND CHINA SHIPPING (HONG KONG) CO LTD
Court

Court of First Instance
Case number

HCCW485/2012

The audited accounts and unpaid arbitration award established on the face of the evidence that the company was insolvent; no credible restructuring proposal or timely evidence was produced and no good reason was given to adjourn; accordingly the court refused to adjourn and made the winding-up order.
13 Feb 2008

RE SOUTHERN MATERIALS HOLDING (H.K.) CO LTD

Citation

RE SOUTHERN MATERIALS HOLDING (H.K.) CO LTD
Court

Court of First Instance
Case number

HCCW281/2007

The company failed to establish a bona fide dispute or demonstrate that its cross-claims were of substance; the statutory demand served was not complied with and audited accounts showed net liabilities (circa HK$108m); therefore on the evidence the company was unable to pay its debts and a winding-up order under s.177(1)(d) was justified.
24 Jun 2002

RE INDUSTRIAL INVESTMENT INTERNATIONAL LTD.

Citation

RE INDUSTRIAL INVESTMENT INTERNATIONAL LTD.
Court

Court of First Instance
Case number

HCCW967/2001

Because the petitioner proved a debt under a Deed of Suretyship, the company was shown to be insolvent and there was no opposing evidence, the court was obliged to make a compulsory winding‑up order and to direct that the petitioner's costs be paid out of the company's assets.

Hong Kong Case Law

RE HNA GROUP (INTERNATIONAL) COMPANY LTD (formerly known as HNA GROUP (HONG KONG) HOLDING CO LTD and HNA GROUP INTERNATIONAL HEADQUARTER (HONG KONG) CO LTD

WAN TAI INVESTMENTS LTD v. TEMPUS HOLDINGS LTD

GALLERIA (HONG KONG), LIMITED (IN COMPULSORY LIQUIDATION) AND ANOTHER v. DBS BANK LTD., HONG KONG BRANCH

HSIN KUANG RESTAURANT (INVESMENT & MANAGEMENT) LTD v. ABERDEEN HSIN KUANG RESTAURANT LTD

RE GRAND CHINA SHIPPING (HONG KONG) CO LTD

RE SOUTHERN MATERIALS HOLDING (H.K.) CO LTD

RE INDUSTRIAL INVESTMENT INTERNATIONAL LTD.