21 May 2018
RE HONG KONG INVESTMENTS GROUP LTD
- Citation
- [2018] HKCFI 984
- Court
- Court of First Instance
- Case number
- HCCW63/2017
The Court concluded the Company failed to show a genuine dispute on substantial grounds or a crossclaim with mutuality; the December Facility Agreement's purpose was to repay existing indebtedness not to provide securities margin financing so illegality under the SFO did not arise; HT Securities had priority over the margin account assets which were insufficient to satisfy HT Securities and thus unavailable to the Petitioner; the Company had sufficient connection with Hong Kong and the Court properly exercised its discretion to wind up the Company and make a bankruptcy order against the Debto…