SAMLANE DEVELOPMENT LTD

HCCW 278/2006

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

COMPANIES (WINDING-UP) NO. 278 OF 2006

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J U D G M E N T

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1.  This is a petition presented against Samlane Development Limited (“the Company”) by Pacific Technology Limited.  The petitioning debt is in the sum HK$658,420.19, being the total outstanding amount under an invoice of the petitioner for providing the Company with oil cards for the supply of oil at the stations of the petitioner.  On 4 May 2006, the petitioner served a demand for the above debt on the Company.

2.  There is one supporting creditor being an employee of the Company seeking payment of HK$187,392.00.

3.  In the evidence filed in opposition by its director Ng Kar Ki Robert, the Company claimed that the petitioner varied its credit terms to the Company in April 2006 thereby causing the Company to suffer liquidity problems.  It was also alleged that the amount owed to the petitioner should be less than the sum demanded, but the Company has not specified what should be the correct amount, other than claiming that there should be deductions concerning unused oil cards and the quantity of oil supplied up to the last day being 1 May 2006.

4.  The Company in its affirmation filed on 11 August 2006 sought an adjournment of 4 weeks for the Company to recover its receivables and to attract a new investor to inject funds.

5.  In the evidence in reply filed by the petitioner on 28 August 2006, it would appear that other creditors have also taken legal proceedings against the Company, including its employees and the Mandatory Provident Fund Schemes Authority.

6.  The petitioner has not heard from the Company of any negotiation for settlement.  Further, the Company’s solicitors have ceased to act for the Company as from 1 September 2006.  The Company has not appeared today nor has it offered any reason for its absence.

7.  As no valid ground has been advanced by the Company to oppose this petition, I make an order to wind up the Company.  The petitioner’s costs and the costs of the supporting creditor are to be paid out of the Company’s assets.