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HCCW 409/2006
IN THE HIGH COURT OF THE
HONG KONG SPECIAL ADMINISTRATIVE REGION
COURT OF FIRST INSTANCE
COMPANIES (WINDING-UP) NO. 409 OF 2006
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IN THE MATTER of KENLAP P.G.C. MANUFACTURER COMPANY LIMITED |
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and |
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IN THE MATTER of the Companies Ordinance, Cap. 32 |
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Before: Hon Kwan J in Court
Date of Hearing: 22 December 2008
Date of Judgment: 22 December 2008
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J U D G M E N T
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1. I have before me a petition to wind up Kenlap P.G.C. Manufacturer Company Limited (“Kenlap”) presented by its parent company Ocean Grand Chemicals Holdings Limited (“OGCH”), then acting by its provisional liquidators, on the ground that Kenlap is insolvent. OGCH is the subject of a restructuring which has been implemented, and the winding-up petition regarding OCGH was dismissed on 30 September 2008. Kenlap does not form part of the restructuring arrangement.
2. In the hearing today, the provisional liquidators for Kenlap consider it just and equitable, and in the best interests of its creditors that it should be wound up, so that its assets may be realised for the benefit of its creditors.
3. I am satisfied that Kenlap is insolvent. I therefore make an order to wind up this company. The petitioner’s costs would be paid out of its assets.
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(S Kwan) |
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Judge of the Court of First Instance |
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High Court |
Ms Linda Chan instructed by Messrs Baker & McKenzie, for the Provisional Liquidators of the Company
Miss Vivian Yeung for the Official Receiver
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