24 Mar 2014
FRED LEE AND CHOW WAI LAN CHRISTINE TRUSTEES OF THE PROPERTY OF LAM CHUN CHEUNG, A BANKRUPT v. LAM CHUN CHEUNG
- Citation
- FRED LEE AND CHOW WAI LAN CHRISTINE TRUSTEES OF THE PROPERTY OF LAM CHUN CHEUNG, A BANKRUPT v. LAM CHUN CHEUNG
- Court
- Court of First Instance
- Case number
- HCB10735/2009
Trustees failed to prove the bankrupt's conduct was unsatisfactory or that he was uncooperative. The bankrupt's explanations for payments of sale proceeds — treating wife's debts as family liabilities, avoiding early repayment penalties on term loans, retaining funds for family living costs and loan instalments, payment timing over months, and attempts to assist trustees in locating relatives — were credible. The statutory presumption of preference was rebutted because the bankrupt did not fully repay relatives and acted consistently with an intention to preserve funds to service bank loans a…