30 Dec 2020
PATRICK COWLEY and WONG WING SZE TIFFANY the Joint and Several Trustees in Bankruptcy of the Property of the Bankrupt v. ALL POWERFUL INVESTMENT LTD
- Citation
- [2020] HKCFI 3173
- Court
- Court of First Instance
- Case number
- HCMP1076/2020
The post-petition mortgage dated 18 March 2017 is void under s42 because it was executed after presentation of the petition without court approval; the mortgages executed within one year before the petition are transactions at an undervalue under s49 and are invalid because the bankrupt received no meaningful consideration and the defendant failed to prove otherwise; Hong Kong has sufficient connection to grant relief in respect of overseas charges; the defendant's factual dispute did not justify adjourning to a writ given its failure to adduce evidence and the need to protect estate recovery.