18 Mar 2002
Because a consent judgment debt of about HK$354,000 and an unsatisfied statutory demand were proved and the company filed no affidavit disputing the debt or showing a bona fide defence, the presumption of insolvency stood and the court made the usual winding-up order.
8 Feb 2002
Because the debt claimed by the petitioner was not rebutted, the company withdrew its opposition and made no offer of payment, the court applied the presumption of insolvency and made the usual winding-up order against the company.
20 Mar 1990
The judge erred in law by failing to take into account that liquidation expenses (including costs awarded against the liquidators) are payable with priority and therefore, on the liquidators' evidence and undertakings, CHL had rebutted the presumption of insolvency for the purposes of s.357; accordingly the discretion to order security against CHL never arose and the order requiring security was set aside. Security against Extramoney was also unnecessary because CHL's assets and the undertakings meant the defendant was adequately protected.