Penta Investment Advisers Limited
Re Allied Weli Development Ltd
HK Court of Appeal, 13-May-2022
The applications of Eugene Chuang Yue Chien and 5 others to appeal a judgment and order for production of documents and private examination is refused. The liquidators are trying to discover what happened to over HK$2.8bn of net assets in the "impugned transactions". Unfortunately, the judgment to which this refers, [2021] HKCFI 1247, and a decision of that judge also refusing leave to appeal, [2021] HKCFI 2968, are not available.
HK Court of Appeal, 13-May-2022
The applications of Eugene Chuang Yue Chien and 5 others to appeal a judgment and order for production of documents and private examination is refused. The liquidators are trying to discover what happened to over HK$2.8bn of net assets in the "impugned transactions". Unfortunately, the judgment to which this refers, [2021] HKCFI 1247, and a decision of that judge also refusing leave to appeal, [2021] HKCFI 2968, are not available.
Allied Weli Development Ltd vs Eugene Chuang Yue Chien & 65 others
HK Court of Appeal, 4-Aug-2021
Mr Chuang's application for leave to appeal against the dismissal by the Court of First Instance of his appeal against extension of a writ is dismissed.
HK Court of Appeal, 4-Aug-2021
Mr Chuang's application for leave to appeal against the dismissal by the Court of First Instance of his appeal against extension of a writ is dismissed.
Allied Weli Development Ltd vs Eugene Chuang Yue Chien & 65 others
HK Court of First Instance, 30-Mar-2021
Mr Chuang's application for leave to appeal against the extension of an unserved writ is dismissed.
HK Court of First Instance, 30-Mar-2021
Mr Chuang's application for leave to appeal against the extension of an unserved writ is dismissed.
Allied Weli Development Ltd vs Eugene Chuang Yue Chien & 65 others
HK Court of First Instance, 27-Oct-2020
"If the respondents' evidence is taken at face value, none of them has any meaningful information, documents or recollection of what happened to the Company's HK$2.86 billion worth of assets, who was involved and who benefited from the Divesting Transactions - a case of collective amnesia."
HK Court of First Instance, 27-Oct-2020
"If the respondents' evidence is taken at face value, none of them has any meaningful information, documents or recollection of what happened to the Company's HK$2.86 billion worth of assets, who was involved and who benefited from the Divesting Transactions - a case of collective amnesia."
Allied Weli Development Ltd vs Eugene Chuang Yue Chien & 65 others
HK Court of First Instance, 25-Aug-2020
"Extraordinarily, the Liquidators were denied access to any books and records of the Company upon their appointment. They were even refused entry to the Company’s premises and escorted away by security guards…"
HK Court of First Instance, 25-Aug-2020
"Extraordinarily, the Liquidators were denied access to any books and records of the Company upon their appointment. They were even refused entry to the Company’s premises and escorted away by security guards…"
Penta Investment Advisers Ltd v Allied Weli Development Ltd
HK Court of Appeal, 28-Aug-2017
The person funding Allied Weli's appeal is revealed as one Lee Kuo Juy. That person is also a substantial shareholder of Inno-Tech (8202).
HK Court of Appeal, 28-Aug-2017
The person funding Allied Weli's appeal is revealed as one Lee Kuo Juy. That person is also a substantial shareholder of Inno-Tech (8202).
Penta Investment Advisers Ltd v Allied Weli Development Ltd
HK Court of Appeal, 18-Jul-2017
"there is evidence which suggests dissipation of the assets of the Company". The appeal against the winding-up order is rejected and the person funding Allied Weli's appeal is ordered to be identified for a costs order against him.
HK Court of Appeal, 18-Jul-2017
"there is evidence which suggests dissipation of the assets of the Company". The appeal against the winding-up order is rejected and the person funding Allied Weli's appeal is ordered to be identified for a costs order against him.
Allied Weli Development Ltd ordered to be wound up
HK Court of First Instance, 22-Feb-2016
"I'm satisfied that the contents of the petition justify the court exercising its discretion to wind up the Company on the grounds of insolvency so that its affairs can be thoroughly investigated." - Justice Jonathan Harris
HK Court of First Instance, 22-Feb-2016
"I'm satisfied that the contents of the petition justify the court exercising its discretion to wind up the Company on the grounds of insolvency so that its affairs can be thoroughly investigated." - Justice Jonathan Harris
Penta Investment Advisers Ltd v Allied Weli Development Ltd
HK Court of First Instance, 14-Oct-2014
Penta successfully sues a BVI company at the centre of what we call the "Chung Nam Network" over a guarantee of a profit from a subscription of shares in Mascotte (0136) which followed a heavy loss on an earlier subscription in Freeman (0279). The claimed quantum is HK$211m. After a restructuring, Allied Weli is now a 100% subsidiary of HEC Capital Ltd.
HK Court of First Instance, 14-Oct-2014
Penta successfully sues a BVI company at the centre of what we call the "Chung Nam Network" over a guarantee of a profit from a subscription of shares in Mascotte (0136) which followed a heavy loss on an earlier subscription in Freeman (0279). The claimed quantum is HK$211m. After a restructuring, Allied Weli is now a 100% subsidiary of HEC Capital Ltd.
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