STARLINE INTERNATIONAL HOLDINGS LIMITED
Liquidators of Starline International Group Ltd v Krzysztof Marszalek & Grady Yu Shun Leung
HK Court of First Instance, 17-Jun-2013
"I must say that in light of the financial circumstances of Starline, in particular, the liabilities owed to Dexxon, it appears that there was a concerted effort to strip the cash from Starline." - Justice Anthony Chan. Starline went bust with net liabilities of HK$37.1m. The court invalidates 19 payments made to the pair in the 2 years before liquidation as unfair preferences.
HK Court of First Instance, 17-Jun-2013
"I must say that in light of the financial circumstances of Starline, in particular, the liabilities owed to Dexxon, it appears that there was a concerted effort to strip the cash from Starline." - Justice Anthony Chan. Starline went bust with net liabilities of HK$37.1m. The court invalidates 19 payments made to the pair in the 2 years before liquidation as unfair preferences.
Re Krzysztof Marszalek and Grady Yu Shun Leung
HK Court of First Instance, 22-May-2012
Bankruptcy orders against Mr Marszalek and Mr Yu are annulled. Standard Chartered Bank had obtained the orders after they defaulted on guarantees for HK$18m of loans to Starline International Group Ltd. A Mr Wong Kam Wing has come to the rescue, providing full settlement so that the pair can sell their latest loss-making venture, Buy Together Hong Kong Ltd (operator of BeeCrazy.hk), for cash and shares in a pre-IPO company. Note: this later turns out to be iBuy Group Ltd, which listed on ASX in Dec-2013 after buying the HK firm for US$21m including US$8.4m in cash.
HK Court of First Instance, 22-May-2012
Bankruptcy orders against Mr Marszalek and Mr Yu are annulled. Standard Chartered Bank had obtained the orders after they defaulted on guarantees for HK$18m of loans to Starline International Group Ltd. A Mr Wong Kam Wing has come to the rescue, providing full settlement so that the pair can sell their latest loss-making venture, Buy Together Hong Kong Ltd (operator of BeeCrazy.hk), for cash and shares in a pre-IPO company. Note: this later turns out to be iBuy Group Ltd, which listed on ASX in Dec-2013 after buying the HK firm for US$21m including US$8.4m in cash.
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