Read the full judgment text of HCCW 325/2018 on BabelCite. This High Court CFI judgment was delivered on 19 March 2020 before Deputy High Court Judge William Wong, SC.
Company law – Winding-up – Strike out – Abuse of process – Matrimonial proceedings – Family companies – Jurisdiction – Place of business – No real prospect of success – Parallel proceedings – Divorce proceedings – Buy-out alternative – Solvent companies – Capital assets – Liquidation value – Consent summons – Dismissal – The Court held that winding-up relief should be struck out as there was no real prospect of a winding-up order being made given the companies were solvent and the Respondent had financial ability to buy out the Petitioner. The Court further held that the Petitions constituted an abuse of process as the matters should be resolved in the concurrent Divorce Proceedings where the Family Court had wide jurisdiction to deal with matrimonial assets. The Court declined to strike out on jurisdictional grounds as the place of business issue was disputed. The Petitions were dismissed by consent.
Legal issues: Striking out winding-up relief · Abuse of process · Jurisdictional challenge
Outcome: Petitions dismissed (struck out).
Cited by 1 case · Cites 15 cases