Aria recently appeared for the Debtor in a bankruptcy petition brought by Sun Kong Petroleum Company Limited against the debtor Mr Tsoi Man, leading the Court to dismiss the bankruptcy petition.

The Debtor is a director and ultimate controller of 90% shareholding in Nanyang International Shipping Ltd. Nanyang had entered into several supply agreements (each lasting a year) with the Petitioner creditor for the purchase of petroleum-related products since about 2023. In May 2024, the Debtor signed a deed of guarantee that he had “irrevocably and unconditionally” agreed to guarantee “all debts” owed by Nanyang to the Petitioner. The Petitioner later sued the Debtor for Nanyang’s failure to pay under the 2025 agreement.

The Court ultimately dismissed the petition and found for the Debtor, as the Petitioner had failed to comply with the mandatory procedural requirements under the Bankruptcy Rules (Cap. 6A) and that the Debtor’s guarantee did not extend to the 2025 agreement on the proper construction of the Guarantee.

Reasons for judgment is available here.

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章子晴大律師近日代表債務人蔡敏（Tsoi Man）先生，處理一宗由新港石油有限公司（Sun Kong Petroleum Company Limited）提出的破產呈請案，並成功令法庭撤銷該破產呈請。

債務人為南洋 (國際)  船務有限公司（Nanyang International Shipping Ltd.）（下稱「南洋」）的董事兼最終控制人（持有 90% 股份）。自 2023 年起，南洋與呈請人（即債權人）簽訂了數份為期一年的供應協議，以購買石油相關產品。於 2024 年 5 月，債務人簽署了一份擔保契據，同意「不可撤銷及無條件地」擔保南洋欠下呈請人的「所有債務」。呈請人其後因南洋未能根據 2025 年的協議支付款項，而對債務人提起訴訟。

法庭最終裁定債務人勝訴，並撤銷該破產呈請。法庭指出，呈請人未能遵守《破產規則》（第 6A 章）下的強制性程序規定；且在正確解讀該擔保書的條文後，裁定債務人的擔保責任並不延伸至 2025 年的協議。

判決書請參閱此處。

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