26 May 2008
BANK OF CHINA (HONG KONG) LTD v. OASIS HKTL 04A LTD AND ANOTHER
- Citation
- BANK OF CHINA (HONG KONG) LTD v. OASIS HKTL 04A LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCA763/2008
The stay was refused because the court was not satisfied a stay would be just and beneficial: the section 228A winding up bore signs of abuse to evade liabilities, the Founders' undertakings had not been exhausted as a source of funding, BOC's rights to issue shares accrued before the winding up, and SubIVs had no other creditors so waiting for creditors' meetings would be pointless.