21 May 2018
RE CHEUNG CHI MANG
- Citation
- [2018] HKCFI 984
- Court
- Court of First Instance
- Case number
- HCB1361/2017
The Court found no genuine dispute on substantial grounds nor a crossclaim against the Petitioner capable of extinguishing the debt; the December facility’s purpose was to repay the Debtor and not margin financing under the SFO so illegality did not arise; the HT Group shares in the margin account were subject to HT Securities' prior rights and insufficient to satisfy HT Securities’ own indebtedness; the Company had sufficient Hong Kong connection and the core requirements for winding up a foreign company were met; accordingly the winding up order and bankruptcy order were granted and costs o…