RE POINTER & DENT CO LTD

HCCW 142/2020

[2021] HKCFI 573

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

COMPANIES WINDING-UP PROCEEDINGS NO 142 OF 2020

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D E C I S I O N

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1.  The present petition was last before me in September 2020 resulting in its adjournment until today for the reasons contained in my decision dated 12 November 2020. As can be seen from those reasons, the petition was adjourned in order to allow it to be amended to address the issue explained in the decision.

2.  In short, that was to make it clear that the principle basis upon which a winding-up order was sought, namely, non-repayment of subscription sums which had been paid by the Petitioners to the Company was claimed on the basis on a restitutionary right to recover it as the offer to subscribe for the shares represented by those payments had never been accepted.

3.  I have before me a summons to formally amend the petition which I will allow and order that the costs be costs in the petition. As matters transpired the Company’s solicitors have come off the record and the Company has not attended to continue to oppose the petition.  In the circumstances it seems to me that the correct course is to make the normal winding-up order on the basis that no defence has been demonstrated to the revised claim for recovery of the subscription monies, however, the amended petition will need to be formally verified.

4.  I will, therefore, make an order that (1) the petition be amended in the form of the draft appended to the summons dated 27 January 2021; (2) an affirmation verifying the amendments be filed by 4:30pm on 5 March 2021; (3) the winding-up of the Company be pronounced in court on Monday 8 March 2021 and the attendance of the parties be dispensed with.