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HCCW 148/2005
IN THE HIGH COURT OF THE
HONG KONG SPECIAL ADMINISTRATIVE REGION
COURT OF FIRST INSTANCE
COMPANIES (WINDING-UP) NO. 148 OF 2005
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IN THE MATTER of SET PHONE LIMITED and
IN THE MATTER of the Companies Ordinance, Cap. 32 |
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Before: Hon Kwan J in Court
Date of Hearing: 20 June 2005
Date of Judgment: 20 June 2005
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J U D G M E N T
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1. This is a petition to wind up Set Phone Limited (“the Company”) presented by the Wing Lung Bank Limited on the basis of the outstanding balance of these judgment debts: (i) HK$1,427,503.50 obtained in HCMP No. 7589 of 1999 on 23 February 2000; and (ii) HK$14,671,650.75 obtained in HCMP No. 7593 of 1999 on 23 February 2000.
2. I understand that mortgaged properties have been realised and the proceeds applied to settle in part the judgment debts. There is, however, still a shortfall of HK$9,984,295.17. A demand for the outstanding balance of the judgment debts was served on the Company on 22 November 2004 and the petition herein was presented on 24 February 2005.
3. The petition was adjourned on 23 May 2005 for four weeks for the parties to negotiate. I am informed by counsel for the petitioner that the outcome is unsuccessful. The Company has not filed any evidence in opposition.
4. I make an order to wind up the Company. The petitioner’s costs are to be paid out of the assets of the Company.
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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: Set Phone Limited, in person - absent
Ms Vivian Yeung, for the Official Receiver
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