RE FULL CREATION DEVELOPMENT LTD

HCCW 337/2009

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

COMPANIES (WINDING-UP) NO. 337 OF 2009

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J U D G M E N T

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1.  This is a petition to wind up Full Creation Development Limited (‘the Company”). The petitioner is Chan Wai Choi trading as Chung Tung Recycling Company.

2.  On 30 April 2009, a statutory demand was served by the petitioner on the Company for $93,186.60 being the unpaid balance of price payable for recycling materials delivered to the Company. The petition was presented on 8 June 2009.

3.  There are four supporting creditors and the aggregate indebtedness to the supporting creditors is in excess of $300,000.

4.  At the first hearing before this court on 17 August 2009, the Company was represented by counsel. The court was told that the Company instructed solicitors a week before that hearing, and the solicitors were instructed that the debt of the petitioner had been “substantially paid”, although the solicitors did not know the exact amount.

5.  Directions were given on 17 August 2009 for the Company to file and serve evidence in opposition within seven days thereof and the petition was adjourned to today.

6.  No evidence has been filed by the Company and although the Company’s solicitors have attended court today, no counsel has been instructed. I understand from a letter of the Company’s solicitors to the court on 27 August 2009 that the solicitors have failed to receive instruction from the Company after the hearing on 17 August.

7.  As there is no evidence in opposition from the Company and the debt of the petitioner has not been paid within three weeks of service of the statutory demand, the Company is deemed unable to pay its debts as they fall due.

8.  I therefore make an order to wind up the Company. The petitioner’s costs are to be paid out of the Company’s assets. The Official Receiver’s costs in the sum of $6,500 assessed on a gross sum basis are to be deducted from the petitioner’s deposit.