2 subsidiaries of debt-ridden Hong Kong contractor Paul Y sued for HK$9.5 million
Mankey Construction Company is suing two subsidiaries of Paul Y Engineering Group for over HK$9.5 million (US$1.2 million) in compensation, alleging unpaid debts from multiple public construction projects. The lawsuits target Paul Y Construction Co and Paul Y General Contractors, claiming they failed to pay Mankey for completed work on projects including a fire training facility at the airport and a residential development in Kwun Tong.
Mankey alleges Paul Y General Contractors owes over HK$3.7 million, while Paul Y Construction Co owes HK$5.8 million for subcontracted work completed between November 2020 and July 2024. The legal action comes after Paul Y Engineering Group sought to appoint provisional liquidators for five subsidiaries to address debt issues and develop a restructuring plan, impacting ongoing projects like the Hung Shui Kiu Phase 2 rehousing estates and the Kai Tak development.
via SCMP Full Text Feed
Mankey Construction Company is suing two subsidiaries of Paul Y Engineering Group for over HK$9.5 million (US$1.2 million) in compensation, alleging unpaid debts from multiple public construction projects. The lawsuits target Paul Y Construction Co and Paul Y General Contractors, claiming they failed to pay Mankey for completed work on projects including a fire training facility at the airport and a residential development in Kwun Tong.
Mankey alleges Paul Y General Contractors owes over HK$3.7 million, while Paul Y Construction Co owes HK$5.8 million for subcontracted work completed between November 2020 and July 2024. The legal action comes after Paul Y Engineering Group sought to appoint provisional liquidators for five subsidiaries to address debt issues and develop a restructuring plan, impacting ongoing projects like the Hung Shui Kiu Phase 2 rehousing estates and the Kai Tak development.
via SCMP Full Text Feed
