31 Dec 2001
COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. HONG KONG BRANCH v. YIU FAI WAREHOUSING LTD
- Citation
- COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. HONG KONG BRANCH v. YIU FAI WAREHOUSING LTD
- Court
- Court of First Instance
- Case number
- HCCW1327/2001
The court found a good prima facie case for winding-up (insolvency and inability to pay demonstrated) and, on the balance of convenience and commercial realities, appointed provisional liquidators because there was credible evidence of non-cooperation by management, internal movement of funds and real risk of dissipation; provisional liquidators were likely to stabilise operations and better protect creditors' interests.