Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Third party security

Legal area

Court

31 Oct 2005

RE TUNG HUI SHYAN t/a FAIREX TRADING CO

Citation

RE TUNG HUI SHYAN t/a FAIREX TRADING CO
Court

Court of First Instance
Case number

HCB4599/2005

The petitioner proved the debt and service of the statutory demand; the debtor failed to file evidence in opposition and withdrew opposition at hearing; third‑party security and parallel proceedings were irrelevant to the debtor's personal liability, therefore a bankruptcy order was properly made against the debtor.
15 Nov 1999

RE: KWOK CHOK YEE and EX PARTE: THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD.

Citation

RE: KWOK CHOK YEE and EX PARTE: THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD.
Court

Court of First Instance
Case number

HCB670/1999

The debt owing by the guarantor under the Guarantee is a liquidated sum; the properties mortgaged by the principal debtor constitute third party security and do not render the guarantor's obligation a secured debt for purposes of section 6B; disputes as to the valuation of third party security do not defeat the status of the claimed amount as a liquidated sum; accordingly the bankruptcy petition succeeds and a bankruptcy order is appropriate.