Re Kwong Yuen Construction Co. Ltd.
Read the full judgment text of HCCW 435/2001 on BabelCite. This High Court CFI judgment was delivered on 20 August 2001.
1. This is an application for the winding up of a company by the name of Kwong Yuen Construction Co. Ltd. The evidence shows that on 30 October 2000 a settlement agreement was reached under which the Company would pay to the Petitioning Creditor HK$130,000.00. This was apparently not paid and on 20 February 2001 a statutory demand was issued by the Petitioning Creditor against the Company. No payment was made as a result of this statutory demand and on 12 May 2001 the present petition was presen
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HCCW000435/2001 HCCW 435/2001 IN THE HIGH COURT OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION COURT OF FIRST INSTANCE COMPANIES WINDING-UP PROCEEDINGS NO. 435 OF 2001 ____________
____________ Coram: Hon Yuen J in Court Date of Hearing: 20 August 2001 Date of Judgment: 20 August 2001 _______________ J U D G M E N T _______________ 1.This is an application for the winding up of a company by the name of Kwong Yuen Construction Co. Ltd. The evidence shows that on 30 October 2000 a settlement agreement was reached under which the Company would pay to the Petitioning Creditor HK$130,000.00. This was apparently not paid and on 20 February 2001 a statutory demand was issued by the Petitioning Creditor against the Company. No payment was made as a result of this statutory demand and on 12 May 2001 the present petition was presented. 2.Although a notice from the Company opposing the petition had been filed in court, a letter has been handed up to the court this morning from the solicitors for the Company indicating that their instructions were now not to oppose the winding-up petition. No one has appeared today to represent the Company. 3.There was also a notice from a supporting creditor indicating that it supported the petition to wind up the Company. 4.In the circumstances, there being no good reason for me not to wind up the Company on the basis of the presumed inability to pay debts, I will make the usual winding-up order.
Representation: Mr William Wong, instructed by Messrs Deacons, for Petitioner Schindler Lifts (Hong Kong) Ltd Respondent: Kwong Yuen Construction Co. Ltd, in person, absent Mr J Glen from Official Receiver's Office |