5 Nov 2003
RE SHUN KAI FINANCE CO LTD
- Citation
- RE SHUN KAI FINANCE CO LTD
- Court
- Court of First Instance
- Case number
- HCCW1325/2002
Shun Kai failed to demonstrate a bona fide, diligently prosecuted appeal or a cross-claim that would outweigh the petitioning debts; the contention that monies held by Japan Leasing belong to Shun Kai or are outside statutory set-off was at best arguable and could not justify staying execution or withholding payment; accordingly a winding-up order was warranted and costs ordered to be paid out of Shun Kai's assets.