Read the full judgment text of HCB 7135/2021 on BabelCite. This HCB judgment was delivered on 16 March 2023 before Deputy High Court Judge Le Pichon.
Bankruptcy – statutory demand – debt – loan vs gift – bankruptcy order – Bankruptcy Ordinance Cap 6 s.6(2)(a) – Petitioner sought bankruptcy order against Debtor based on unmet statutory demand for $145,000 – Debtor admitted loans in amended notice but later retracted – Court found payments were loans not gifts – Undisputed debt of $69,000 exceeded threshold – Bankruptcy order made – Official Receiver appointed provisional trustee
Legal issues: Nature of payments (loan vs gift) · Bankruptcy threshold
Outcome: Bankruptcy order made against Respondent; Official Receiver appointed provisional trustee.