Re Grand Jewellery Co. Ltd.

HCCW 1081/2001

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

COMPANIES WINDING-UP NO. 1081 OF 2001

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J U D G M E N T

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1. This is a petition to wind-up a company by the name of Grand Jewellery Company Limited ("Grand"). The petition is based on a judgment debt in the sum of about $354,000 which judgment was given by consent on 21 August 2001. On the same day, a statutory demand for the same amount was presented which has not been satisfied. The petition was duly presented on 20 September 2001.

2. The matter has come before the court of on a few occasions when the parties have asked for adjournments on the basis of negotiations being held. However, these negotiations have now broken down. There has been no affidavit from the Company disputing the debt or otherwise providing reasons why it should not be wound-up.

3. The solicitors formerly instructed for the Company have indicated that they have no further instructions to appear on behalf of the Company. Since there is a judgment debt and a presumption of insolvency, I will make the usual winding-up order.