11 Aug 2017
G.M.I. TECHNOLOGY INC v. EAST CHINA DIGITAL TECHNOLOGY LTD AND ANOTHER
- Citation
- G.M.I. TECHNOLOGY INC v. EAST CHINA DIGITAL TECHNOLOGY LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCMP2036/2016
On a broad macroscopic assessment resolving doubts in favour of the creditor and having regard to contemporaneous invoices, purchase orders, audit confirmations, payment terms and security provisions in the memorandum, the court concluded the debts were not contingent but liquidated and assessed GMI's proof of debt at US$6,666,519.09; the chairman's valuation of HK$1 was manifestly wrong and was set aside, as was the appointment of the liquidator; a reconvened creditors meeting was ordered and costs directions given.