Re FRP (Hong Kong) Ltd. (Company Number 278684)

HCCW 207/2001

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

COMPANIES (WINDING-UP) PROCEEDINGS NO. 207 OF 2001

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J U D G M E N T

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1. This is an application to wind up a company based on a judgment debt of $2m. which was entered against the Company in February 2001. The statutory demand was served on the Company in February 2001 and the petition was presented in March 2001.

2. There is an affidavit from the Company saying that it has lodged a Notice of Appeal against the judgment debt. However, no stay of execution has been ordered and perhaps more importantly the appeal has not even been set down in the three-month period between the judgment and the present date.

3. It is well-known that a judgment creditor is entitled ex debito justitiae to a winding-up order unless the court can be moved in the exercise of its discretion not to wind up the Company. Here I have not seen anything from the Company that would make me exercise my discretion not to order a winding-up of the Company other than the mere fact that there has been lodged a Notice of Appeal. There is nothing before me to indicate that this Company would succeed in its appeal or any reason why this winding-up proceeding should await that appeal (if and when it is brought up) when there has been no stay of execution.

4. In the circumstances, I will make the usual winding-up order.