13 Oct 2022
RE NG KWOK TAI ANDREW
- Citation
- [2022] HKCFI 3133
- Court
- Court of First Instance
- Case number
- HCB5188/2018
The petitions were upheld because the Debtors failed to demonstrate that they were able to pay all their debts or that they had made a reasonable offer to secure/compound the petition debts within s6D(3). The purported offers excluded readily available cash entitlements (notably the Canadian proceeds), lacked evidence of sufficiency (no proof of siblings' contributions or share values), and did not overcome contingent and prospective liabilities; therefore the creditor's refusal was not unreasonable and bankruptcy orders were appropriate.