LI LAI YING v. TOP FORTUNE FINANCE LTD

HCCW 415/2016

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

COMPANIES (WINDING-UP) NO 415 OF 2016

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D E C I S I O N

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1.  I have before me a summons issued by the Company for a validation order. The Company is a licensed money lender. The Petitioner, who is not legally represented, has issued a petition for return of HK$200,000 which it would appear from the evidence that has been filed to date relates to a deposit paid in respect of the sale of landed property.

2.  The Petitioner did not appear today.  She sent a friend Ms To Shuk Yee Suki to represent her.  As I explained to Ms To this she was not able to do.  However, having asked her a number of questions, it appears unclear whether the Petitioner understands the precise nature of the application that I am dealing with today.

3.  I am satisfied, having read the evidence and having regard to what I consider to be reasons to think that the petition was not the right process for the Petitioner to use to try and recover the sums that she believes she is owed, that a validation order should be granted.  I will make an order in the following terms:

(1) Notwithstanding the presentation of the winding-up petition on 18 November 2016 to the court, and in the event that the Company being wound-up, the following transactions be validated and should not be avoided by virtue of section 182 of the Companies (Winding Up and Miscellaneous Provisions) Ordinance, Cap 32, and the date of the presentation of the winding-up petition up to and including the determination of the petition and the making of a winding-up order:

(a) The payments made and to be made into or out of the bank account numbers (i) 024-228-266-730-883 and (ii) 024-228-266-730-001 of the Company with Hang Seng Bank Limited in the ordinary course of the business of the respondent including but not limited to paying the salaries of employees, MPF contributions, government rates, government fees, utility costs, and making advances in the ordinary course of business to customers and clients of the Company.

(b) The payments made and to be made into or out of the bank account numbers (i) 028-0732-1150-37400, (ii) 028-0732-115037-031 and (iii) 028-0732-115037-233 of the Company with Public Bank (Hong Kong) Limited in the ordinary course of the business of the respondent including but not limited to paying the salaries of employees, MPF contributions, government rates, government fees, utility costs, and making advances in the ordinary course of business to customers and clients of the Company.

(c) The payment up to a limit of HK$155,000 in respect of obtaining legal advice and representation for the purposes of the current proceedings.

(2) The costs of this application be costs in the petition.