2 Apr 2020
RE GW ELECTRONICS CO LTD
- Citation
- [2020] HKCA 180
- Court
- Court of Appeal
- Case number
- CACV84/2017
The Court held the petition valid: the debt was a liquidated contractual sum ascertainable by the contract's Article 17 mechanism and supporting statements, the statutory demand complied with s.178, the Company was insolvent on the cash-flow test when TEAL terminated, and there was no bona fide dispute on substantial grounds because the alleged oral settlement lacked contemporaneous documentary support and was commercially implausible; accordingly the strike-out application and appeal failed.