The Secretary of state sought the winding up of the companies saying it was expedient in the public interest to do so. A shareholder opposed this saying that the companies were solvent.
Held: The shareholder had, in the absence of any position taken by the company, the standing to make the application, which was granted in respect of one company and refused for the other two. The rules did not envisage a shareholder appearing in such a case, but he should not be prevented from doing so in an appropriate case.
Judges:
The Hon Mr Justice Evans-Lombe
Citations:
[2004] EWHC 862 (Ch), Times 13-May-2004
Statutes:
Jurisdiction:
England and Wales
Citing:
Cited – Re Camburn Petroleum Products Ltd ChD 1979
The court heard a contributors’ petition. The directors were in deadlock with equal shareholdings. The petition was not making good progress, and a creditor’s petition was then issued. The shareholder sought a stay.
Held: There was a . .
Cited – Bows v Hope Life Insurance and Guarantee Co HL 1865
In the case of a creditor’s petition not opposed by other creditors: ‘I agree with what has been said, that it is not a discretionary matter with the court when a debt is established, and not satisfied, to say whether the company should be wound up . .
Cited – Xyllyx PLC (No1) ChD 1992
Two of the company’s contributories asked be added to the list for the purpose of obtaining a 7 day adjournment of the hearing of the petition so as to give them time to consider whether they wished to ask for substitution.
Held: An ordinary . .
Cited – Re Walter L Jacob Ltd CA 1989
Having authorised an enquiry under section 447, the Secretary of State presented a winding-up petition of the respondent, an authorised dealer in securities. The company had been obliged to cease trade by its regulatory body. The judge held that the . .
Cited – Re Rica Gold Washing Co 1879
A contributory, when petitioning for the winding up of a company, must plead in his petition and prove by evidence that, if a winding up order is made, there is a contingent surplus of assets in the winding up which will be available for . .
Lists of cited by and citing cases may be incomplete.
Company, Insolvency
Updated: 27 June 2022; Ref: scu.195973