24 Nov 2021
RE HSIN CHONG CONSTRUCTION CO LTD
- Citation
- [2021] HKCFI 3451
- Court
- Court of First Instance
- Case number
- HCCW239/2018
Insolvency set-off operates to establish a net provable balance and, because the company's cross-claim was unascertained at the commencement of the winding up, WKCD had no ascertained provable debt for voting under Rule 125; accordingly the chairman correctly admitted the proof for HK$1 and WKCD's summons is dismissed.