Re: CHENG HOK CHEUNG and Ex Parte: BANK OF CHINA (HONG KONG) LTD.

HCB 5154/2001

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

BANKRUPTCY PROCEEDINGS NO. 5154 OF 2001

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J U D G M E N T

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1. This petition was brought by the Bank of China (Hong Kong) Limited, which used to be the China and South Sea Bank Limited before the merger of banks. The petition was based on a judgment debt of HK$15,542,982.83, in the judgment given in High Court Action No. 692 of 2001 on 4 April 2001.

2. The statutory demand was served on the debtor, Mr Cheng Hok Cheung personally on 19 June 2001. The petition herein was filed on 16 July 2001 and an order for substituted service of the petition was obtained on 20 September 2001. That order has been complied with.

3. When the matter first came before me on 22 October 2001, I adjourned the hearing to 26 November 2001 to give the debtor an opportunity to apply to set aside the judgment which was obtained by default. The petition was further adjourned to 7 January 2002 to await the outcome of the debtor's application before a master on 19 December 2001. The debtor's application was dismissed by Master Yuen on that date and an appeal to a judge was lodged by the debtor. On 7 January 2002 I adjourned the petition to today, after the appeal was to be heard on 17 January.

4. I understand that Deputy Judge Woolley has dismissed the debtor's appeal. The debtor does not contest the bankruptcy petition given that ruling. In the circumstances, I make a bankruptcy order with costs to the petitioner.