18 Mar 2004
RE CENTURY GROUP LTD
- Citation
- RE CENTURY GROUP LTD
- Court
- Court of First Instance
- Case number
- HCCW59/2004
The company failed to prove on the evidence that continuation of trading was likely to generate a real net benefit to unsecured creditors; financial information was incomplete and omitted material ongoing liabilities (5% turnover rent and other rent), and past trading showed prolonged losses; therefore the discretion under s.182 should not be exercised to grant a validation order for ongoing expenses or past debts.