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HCCW 237/2005
IN THE HIGH COURT OF THE
HONG KONG SPECIAL ADMINISTRATIVE REGION
COURT OF FIRST INSTANCE
COMPANIES (WINDING-UP) NO. 237 OF 2005
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IN THE MATTER of the Companies Ordinance, Chapter 32 and
IN THE MATTER OF FAITH DEE LIMITED |
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Before: Hon Kwan J in Court
Date of Hearing: 27 June 2005
Date of Judgment: 27 June 2005
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J U D G M E N T
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1. This is a petition presented by the Wing Lung Bank Limited for the winding up of Faith Dee Limited (“the Company”).
2. The petitioner has obtained a judgment against the Company in sums of HK$14,671,650.75 and HK$2,148,866.83 in HCMP No. 7593 of 1999 on 23 February 2000. The petitioner has recovered possession of the mortgaged properties, and after applying the proceeds of sale, there is a shortfall of HK$9,024,366.97. A demand for the shortfall was served on the Company on 25 February 2005.
3. The hearing of this petition was adjourned on 30 May 2005 for 4 weeks for the parties to negotiate.
4. At the hearing today, I am informed by counsel that the negotiations are fruitless. I therefore make an order to wind up the Company. The petitioner’s costs would be paid out of the Company’s assets.
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(S Kwan)
Judge of the Court of First Instance
High Court |
Mr Joeson Wong, instructed by Messrs fairbairn Catley Low & Kong, for the Petitioner
The Company: not represented, absent
Mrs C Sit, for the Official Receiver
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