Read the full judgment text of HCCW 000872/2003 on BabelCite. This High Court CFI judgment was delivered on 13 October 2003.
1. This is a petition presented by Hong Kong Securities Clearing Company Limited against Tai Wah Securities Limited ("the Company"), upon a debt of $2,300,846.19 due to the petitioner under a broker participation agreement dated 4 December 1997. A demand for $2,361,352.61 being the debt then outstanding was served on the Company on 17 May 2003. On 31 July 2003, the Company paid $100,000.00 to the petitioner in part payment. It is not in dispute that the debt in the petition is due and owing to t