Read the full judgment text of HCCW 714/2001 on BabelCite. This High Court CFI judgment was delivered on 6 May 2002.
1. This is a petition by a shareholder and creditor that the Company be wound up under section 177(1)(d) of the Companies Ordinance, Cap 32, on the ground that it was unable to pay its debt. The petitioning debt of $1.4 million arose out of two shareholder's loans advanced by the Petitioner to the Company in July 1997 and March 1998 and there is no dispute that it has not been repaid. The dispute is whether it was repayable at the time of service of the statutory demand.
Cited by 6 cases