Read the full judgment text of HCCW 114/2000 on BabelCite. This High Court CFI judgment was delivered on 3 May 2000.
1. This is a creditor's petition. The underlying debt arises under a mortgage created by Chit Lee Holdings Limited ("the Company"). Under the terms of the mortgage, the Company is obliged to repay HSBC ("the Bank") which is the petitioner, sums due from its subsidiary Chit Lee Marble & Minerals Company Limited ("MM"), the borrower. As at 16 August 1999, the amount owing stood at $20.27 million. At the hearing, a winding-up order was made. The reasons appear below.
Cited by 1 case