Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Security deed

Legal area

Court

24 Jan 2019

RE TAM SHUK YI FANNY

Citation

[2019] HKCFI 186
Court

Court of First Instance
Case number

HCB7402/2017

Third‑party security (legal charge and security deeds) does not render the petitioner a secured creditor under section 2 of the Bankruptcy Ordinance and therefore does not constitute a defence to the statutory demands; no valid defence was established and bankruptcy orders were properly made.
24 Jan 2019

RE CHEUNG SUNG KEI CIVIC

Citation

[2019] HKCFI 186
Court

Court of First Instance
Case number

HCB7403/2017

Because the securities and legal charge were provided by third parties and not the debtors, the petitioner was not a 'secured creditor' of the debtors under Bankruptcy Ordinance s2; third-party security is irrelevant to the validity of the statutory demands and the debtors raised no valid defence, so bankruptcy orders were properly made.