16 Feb 2005
CHAN YU HONG v. LAM HONG AND OTHERS
- Citation
- CHAN YU HONG v. LAM HONG AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCW90/2005
Because the Company was shown to be solvent, trading profitably, the Official Receiver raised no objection, and the Company's audited and management accounts substantiated average monthly ordinary course expenses (approx. HK$3.8m), the court granted a validation order under s182 subject to protective conditions; the petitioner's proposed cap (HK$800,000) lacked evidential support and was rejected in favor of a court-imposed cap of HK$4,000,000 per month together with mandatory reporting and inspection rights.