14 Feb 2011
佛山市順德區金鳳製衣有限公司 v. FIRST DRAGON FASHION (HONG KONG) LTD
- Citation
- 佛山市順德區金鳳製衣有限公司 v. FIRST DRAGON FASHION (HONG KONG) LTD
- Court
- Court of First Instance
- Case number
- HCCW41/2010
Company failed to prove a bona fide set‑off exceeding the petitioning debt; independent valuation and auction price of Seized Materials showed insufficient value; company evidence and expert opinions were not credible and showed dishonesty (inflated inventories); s178(1)(a) presumption of insolvency stands; accordingly winding up order granted and costs on indemnity ordered.