Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Section 6d bankruptcy ordinance

  • 13 Oct 2022

    RE TO PUI KUI

    Citation
    [2022] HKCFI 3133
    Court
    Court of First Instance
    Case number
    HCB5189/2018

    The court held that the Debtors’ offers to secure or compound were unreasonable and insufficient because they omitted readily available cash assets (the Canadian estate), lacked evidence of other family members’ contributions, and did not address present and contingent liabilities; accordingly the petitioner’s refusal was not unreasonable under s6D(3) and bankruptcy orders were made against both Debtors.

  • 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.