10 Nov 2022
CITITREND ASIA LTD v. GENSTAR INVESTMENT HOLDING LTD
- Citation
- [2022] HKCFI 3482
- Court
- Court of First Instance
- Case number
- HCCW416/2021
The promissory note, read commercially, required repayment by 31 December 2021; Hiperk failed to adduce sufficiently precise, credible evidence to establish a bona fide defence on substantial grounds that the advances were not repayable or were capital contributions; on the totality of evidence the company is insolvent; the petition is therefore to be adjourned with a conditional payment window failing which a normal winding-up order will be made; an irregularity in the petition was waived.