15 Mar 2001
LAI YUK SHAU v. DAO HENG BANK LTD.
- Citation
- LAI YUK SHAU v. DAO HENG BANK LTD.
- Court
- Court of First Instance
- Case number
- HCSD39/2000
Mortgages provided by third parties do not constitute 'security in respect of the debt' under r.44(5) when read with the definition of 'secured creditor' in s.2 of the Bankruptcy Ordinance; the statutory demand complied with r.44(4) since the interest calculated to 4 October 2000 was due at the date of the demand and the form may be varied; the court declined to exercise its discretion under r.48(5)(d) because the bank was entitled to enforce the debtor's guarantee and other securities without first resorting to those securities and no injustice to the debtor was shown; accordingly the applic…