HCB 6083/2018
[2019] HKCFI 2782
IN THE HIGH COURT OF THE
HONG KONG SPECIAL ADMINISTRATIVE REGION
COURT OF FIRST INSTANCE
BANKRUPTCY PROCEEDINGS NO 6083 OF 2018
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RE : LI XIAOMING Debtor
EX PARTE : DILIGENT MYRIA LIMITED Petitioner
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Before: Deputy High Court Judge William Wong SC in Court
Date of Hearing: 6 November 2019
Date of Decision: 15 November 2019
D E C I S I O N
1. On 24 October 2019, Diligent Myria Limited (the “Petitioner”) presented a bankruptcy petition (“the Petition”) against Li Xiaoming (the “Debtor”) based on a statutory demand dated 26 July 2018 (the “Statutory Demand”).
2. The Petition is based on a debt arising out of a settlement agreement dated 13 February 2018 (the “Settlement Agreement”), whereby the Debtor agreed, inter alia, to pay the Petitioner US$5,000,000 on 30 June 2018 (the “Petitioning Debt”) (see clause 3, sub-clauses 1(1) and (2) of the Settlement Agreement).