FU KONG INCORPORATED v. HUA YUN DA GROUP LTD

HCCW980/2004

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

COMPANIES (WINDING UP) NO. 980 OF 2004

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DECISION

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1.  The petitioner, Fu Kong Incorporation (Fu Kong) sued the company Hua Yun Da Group Limited in High Court Action 511/2001 for repayment of US$300,000. 

2.  On 25 May 2004, the Honourable A Cheung J gave judgment to Fu Kong with interest and costs.  On 20 July 2004, a statutory demand was served on behalf of Fu Kong on the company for payment of the said sum with interest.  No payment was made by the company within the 21 days thereafter, hence Fu Kong on 7 September 2004 issued a petition to wind-up the company.  The company opposed the petition and said that it was appealing against the judgment in the said High Court Action.  A Notice of Appeal in that Action raised two grounds, namely, the judge had erred, and that the company would ask for a retrial with additional witness.  The company also asked for a stay of the winding-up. 

3.  However, on 8 March 2005, the solicitors for the company wrote to the solicitors for Fu Kong a letter and copied it to this court, saying that the company would not contest the petition to wind-up.  This morning, counsel for the company confirmed that there is no objection to the petition to wind-up and it is not pursuing the application for stay.

4.  I thus dismiss the company’s application for stay and make the usual winding-up order against the company with costs to be paid to the petitioner Fu Kong.