23 Jan 2020
RE HONG KONG PAK TAT TRADING CO (In compulsory liquidation) (the “Company”)
- Citation
- [2020] HKCFI 287
- Court
- Court of First Instance
- Case number
- HCCW236/2011
A conditional permanent stay of the winding-up was granted under s209 subject to the Executors' undertakings including addressing the principal indebtedness and providing security for liquidators' remuneration: specifically the Executors must provide undertakings (including treatment/waiver of the HK$53,000,000 claim) and procure net payment of 50% of the taxed liquidators' costs and expenses (with an undertaking to pay the remainder in accordance with the court's determination) before the stay takes effect; the application to declare the SPA void was dismissed as misconceived in winding-up p…