Read the full judgment text of HCCW 000090/1999 on BabelCite. This High Court CFI judgment was delivered on 4 November 1999.
1. This is a petition to wind up Lok Tin (Holdings) Limited ("the Company ") presented by the Hongkong & Shanghai Banking Corporation Limited ("the Petitioner") based on an unpaid debt. It is common ground that the Company is insolvent. The net amount owing to the Petitioner is $28.7 million. The other creditors of the Company are its directors who are also the opposing contributories. On the accounts as they stand, it is agreed that the amount owing to them is a net sum of $24.3 million.