26 Mar 2004
JADE ELECTRONICS CO LTD v. CHINA SILVER DRAGON GROUP LTD
- Citation
- JADE ELECTRONICS CO LTD v. CHINA SILVER DRAGON GROUP LTD
- Court
- Court of First Instance
- Case number
- HCCW283/2003
The court found the escrow allegation inherently incredible and contradicted by contemporaneous documents (board minutes, undertaking) and earlier communications; no bona fide dispute on substantial grounds was established. On consolidated financial evidence the company was unable to pay its debts; accordingly a winding-up order was made and applications for adjournment or stay (including pending appeal) were refused.