14 Jul 2005
RE GOLD-FACE FINANCE LTD
- Citation
- RE GOLD-FACE FINANCE LTD
- Court
- Court of First Instance
- Case number
- HCCW870/2004
The court refused to validate the operating expenses or the professional fees because the Company had been funded by related group entities without demonstrated need or transparency as to amounts and sources, the major salary items were not attributable to the company, there was insufficient information to justify the professional fees, and the winding-up petition and scheme sanction hearing were imminent making validation inappropriate.