INTRODUCTION
In the recent judgment in Re Gregory (“G”) and Bottomley (“B”) (Debtors)1 typical bankruptcy petitions presented by The Hongkong and Shanghai Banking Corporation Ltd (“HSBC”) against G and B based on their personal guarantees of Can Build Management Limited’s (“CBM”)2 debts were dismissed when the Court concluded it had no jurisdiction over them.
FACTS
CBM’s banking relationship with HSBC resulted in various loans, overdraft, performance bonds and credit card facilities which were secured by a guarantee limited to $8,149,660 from G and B executed in November 2015.
In due course CBM had payment issues leading to HSBC’s High Court proceedings against it3 and a judgment for over HK$23…