RE LIU WING KIN

HCB 8385/2002

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

BANKRUPTCY PROCEEDINGS NO. 8385 OF 2002

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J U D G M E N T

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1. This is a petition filed by the debtor, Mr Liu Wing Kin for a bankruptcy order on the ground he is unable to pay his debts. The petition was initially opposed by the Standard Chartered Bank, a creditor to the extent of HK$208,559.58. According to the Statement of Affairs filed by the debtor, I am satisfied that he is unable to discharge his total indebtedness, there are two secured creditors and 25 unsecured creditors.

2. The opposition of the bank was made on the basis that there were certain property transactions not fully explained in the Statement of Affairs by the debtor and for that reason, the debtor was asked to make a full disclosure of his asset and financial circumstances.

3. This has been complied with by the debtor in the third affirmation he filed in court on 30 August 2002, the details of which I shall not repeat. Suffice it to say that full and detailed evidence has been disclosed by the debtor in relation to each of the transactions and how the proceeds of sale from the transactions have been dealt with.

4. I am informed by Mr Cheung who appears for the debtor today that the bank has withdrawn its opposition, and that he does not seek any order as to costs against the bank. In the circumstances, I make a bankruptcy order against the debtor and make no order as to costs.

Representation:

Mr William Cheung of Messrs Weir & Associates, for the Petitioner

Mr E Gopaoco of Messrs Lee & Chow, for the Standard Chartered Bank, the Opposing Creditor

Miss S Chung for the Official Receiver