The petitioner appealed against rejection of his contributor’s winding up petition.
Held: The Companies court was the appropriate place to determine a dispute on winding up petition. A dispute on locus standi can be dealt with in the winding-up proceedings without necessitating a stay of the petition, provided that the petition is not likely to cause substantial damage or inconvenience to the company.
Judges:
McGowan LJ, Sir Peter Gibson, Hutchison LJ
Citations:
Times 18-Dec-1996, [1996] EWCA Civ 1229, [1997] 2 BCLC 770, [1997] 1 WLR 534
Links:
Jurisdiction:
England and Wales
Citing:
Cited – Re JN 2 Ltd ChD 1978
The court will require any dispute as to the status or locus standi of a party to be resolved in separate proceedings before a winding-up petition is heard. The Court highlighted the extent and applicability of Section 224(1) of the 1948 Act, . .
Cited by:
Mentioned – Cadbury Schweppes Plc and Another v Halifax Share Dealing Ltd and Another ChD 23-May-2006
Fraudsters had successfully contrived to sell shares of others, by re-registering the shares to new addresses and requesting new certificates. The question was which of the company, the company registrars and the stockbrokers should bear the loss. . .
Lists of cited by and citing cases may be incomplete.
Insolvency, Company
Updated: 04 November 2022; Ref: scu.77736