RE EDWIN E & M ENGINEERING LTD

HCCW 689/2003

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

COMPANIES (WINDING-UP) NO. 689 OF 2003

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J U D G M E N T

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1. This is a petition to wind up Edwin E & M Engineering Limited ("the Company") presented by Mr Chan Yuk Lam Terry based on an award obtained from the Labour Tribunal on 8 October 2002 in the sum of $7,478.40. By the same award, the Company is also indebted to 16 other employees in the aggregate sum of $980,757.60.

2. There are four supporting creditors to this petition, including Chung Yuen E & M Limited, which is a judgment creditor and had previously petitioned to wind up the Company but had withdrawn its petition on reaching a settlement with the Company in April 2003. However, as the Company has defaulted in making payment to this supporting creditor under the settlement agreement, the entire remaining balance of the judgment debt has become due to this supporting creditor.

3. The Company has initially opposed the petition and has filed two affidavits in opposition. I am, however, informed by counsel appearing for the Company today that the Company no longer wishes to oppose the petition.

4. As the debt in the petition is not in dispute and opposition is withdrawn by the Company, I make a winding-up order against the Company. The petitioner's costs are to be paid out of the Company's assets. There will also be one set of costs for all the supporting creditors, to be paid out of the assets of the Company.