28 Nov 2001
CHENG WAI KEI v. COMMERZBANK AKTIENGESELLSCHAFT
- Citation
- CHENG WAI KEI v. COMMERZBANK AKTIENGESELLSCHAFT
- Court
- Court of First Instance
- Case number
- HCSD25/2001
Rule 44(5) and Rule 48(5)(c) apply only to security over the property of the person against whom the statutory demand is made; securities over third parties' property (Philco, Winful) need not be stated in the statutory demand and cannot be credited against the guarantor; the applicant's equity argument to treat third‑party securities as his own fails and the application out of time is refused; the statutory demand stands and the setting aside application is dismissed.