RE SHUN QUN INDUSTRIAL CO LTD

HCCW 556/2005

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

COMPANIES (WINDING-UP) NO. 556 OF 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 Bank of China (Hong Kong) Limited against Shun Qun Industrial Company Limited (“the Company”).  It is founded on a judgment debt in HCMP No. 5073 of 2000 dated 2 August 2001.

2.  As of 28 May 2005, the amount due from the Company to the petitioner is in the sum of HK$3,287,466.98.  The debt due was money lent under a facility letter in April 1997.  A demand for the petitioning debt was served on 2 June 2005. 

3.  The Company was struck off the register of companies pursuant to s291(6) of the Companies Ordinance, Cap. 32 on 28 November 2003.

4.  In this petition, the petitioner seeks an order that the name of the Company be restored to the register of the Companies Registry and an order to wind up the Company upon its reinstatement.

5.  The petition was served on the Company by leaving the same at its registered office on 26 July 2005.  It was also advertised in one English and one Chinese newspaper on 5 August 2005.

6.  In addition, the petition was served on the two individuals who are the only directors and shareholders of the Company.

7.  On 27 September 2005, there was an application made by one of the directors to the Practice Master for leave to represent the Company but leave was refused.

8.  The Company has not appeared today.  The petitioner has an obvious interest in the reinstatement of the Company.

9.  In the circumstances, I make an order as follows:

(1)	the Company is restored to the register of the Companies Registry;
(2)	the petitioner is to deliver to the Registrar of Companies a sealed copy of this order for registration within 7 days hereof;
(3)	the Company is wound up on its reinstatement;
(3)	the petitioner is to pay the Registrar of Companies agreed costs in the sum of HK$5,000.00 within 7 days hereof; and
(4)	the petitioner’s costs are to be paid out of the assets of the Company.