RE TSE KIN KI t/a WIT WEALTHY INDUSTRIAL CO

HCB 1396/2005

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

BANKRUPTCY PROCEEDINGS NO. 1396 OF 2005

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J U D G M E N T

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1.  On 25 July this year, this matter came before me.  At the hearing it was indicated to me that there is a chance that the parties may reach some settlement.  But the agreement could not be reached at that stage, hence the matter was adjourned to today.  But I also directed on 25 July that if the debtor paid the sum of $8,600.00 into court by 20 August, the parties’ attendance can be excused on the basis that the Petitioner would withdraw the petition by a letter sent to the court and the parties on or before 23 August.  I also reserve the questions of costs of the petition and payment out to be dealt with on today.

2.  The Debtor has subsequently paid $8,600.00 into court on 22 August and the petitioner indicated by a letter dated 23 August 2005 that they agreed to have the petition dismissed.  And they also indicated that they would not attend today’s hearing.

3.  In order to save costs, I excused the parties from attendance of today’s hearing.  In view of what happened, the petition is dismissed.

4.  According to what is annexed to the letter of 23 August 2005, there is agreement between the Debtor and the Petitioner on the question of costs.  In accordance with the agreement I make an order in terms of paragraphs 3 and 4 of the draft order submitted to this court by the Petitioner pursuant to the letter of 23 August 2005.  There is also a provision for payment out of the sum already paid into court.  I will also make an order in terms of paragraph 6 of the draft order.