14 Mar 2022
RE UNIVISION ENGINEERING LTD
- Citation
- [2022] HKCFI 702
- Court
- Court of First Instance
- Case number
- HCCW487/2021
The Company was not shown to be clearly insolvent and continuation of trading was likely to generate net cash or assets for the benefit of creditors; accordingly the court exercised its s182 discretion to grant validation for payments necessary to continue trading (subcontractor/supplier payments, insurance premiums, ordinary course expenses subject to a monthly cap and reporting/inspection safeguards, and legal costs up to a cap), but refused validation of unparticularised retrospective outgoing payments (para 1(a)) for lack of evidence.