20 Sept 2000
RE: CHAO SZE BANG FRANK (趙世彭) and EX PARTE: BRIGHT ISLANDS CORPORATION (A Creditor)
- Citation
- RE: CHAO SZE BANG FRANK (趙世彭) and EX PARTE: BRIGHT ISLANDS CORPORATION (A Creditor)
- Court
- Court of First Instance
- Case number
- HCB549/2000
The Guarantee, though containing both indemnity and performance provisions, did not establish an undisputed shortfall on the facts; material factual disputes as to the Vessel's value and whether Bright Islands/Nissho Iwai prevented resale meant the core debt was substantially disputed and presentation of the petition constituted an abuse of process — therefore the petition was struck out conditionally only; however HK$50,000 in legal fees (per the parties' capped agreement) was found to be payable by Mr Chao.