RE PARK CHUL SOO

HCB 4304/2018

[2018] HKCFI 2750

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

BANKRUPTCY PROCEEDINGS No 4304 OF 2018

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D E C I S I O N

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1.  The debtor has applied to set aside the statutory demand served on him. His application was refused by Mr Justice Ng.

2.  For today’s hearing on the petition, the debtor has not filed any affidavit in opposition including any evidence as regards his means to meet the debt.  There has been no application to stay Mr Justice Ng’s order which gave leave to the petitioner to file a petition within seven days of his judgment.   

3.  Mr Lee, counsel for the debtor, has urged upon this court to consider that the applicant has a bona fide appeal raising serious grounds of appeal worth considering.  See Re Choy Wai Bor HCB 8565/2001 28 May 2002, Kwan J (as she then was). 

4.  It is unsatisfactory that the grounds of appeal are merely attached to counsel’s submission and not enclosed in an affidavit of the petitioner.

5.  Apart from showing this set of grounds of appeal to the court, there has been no attempt to justify the merits of this appeal. Apart from saying that there appear to be some arguable grounds of appeal put forward, I cannot say that the grounds are such that the applicant is likely to be successful in that appeal. 

6.  Anyway, I have to bear in mind the consequence if I were to issue a bankruptcy order today.  It may likely have the effect of barring the applicant from appealing against the decision and declining to set aside the statutory demand. 

7.  The grounds of appeal do challenge the way in which the learned judge applied the legal principles in deciding whether there was bona fide dispute on substantial ground.  Having considered all the circumstances, I am minded to consider an adjournment only on condition that the debtor makes a payment into court.

8.  I adjourn the matter for a hearing on 31 December 2018 at 9:30 am.  This is on condition that the debtor pays the amount of HK$1.8 million into court by 4 pm on 28 December 2018.  That is a Friday. If he fails to do so, the court may proceed to pronounce the bankruptcy order on 31 December 2018.