In the matter of Orient Petroleum International Inc [2009] CIFsd 32 (18 December 2009)

The court found that Orient Petroleum International Inc was unable to pay its debts and that no alternative remedy was appropriate, thus a winding up order was justified.

Citation: [2009] CIFsd 32
Parties: Subject Company: Orient Petroleum International Inc
Jurisdiction: Cayman Islands
Judgment Date: 18 December 2009
Procedural Posture: Corporate Matter / Judgment
Outcome: winding up order granted
Legal Topics: Company Winding Up, Insolvency

Corporate Law Company Winding Up Insolvency

Case Brief

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Parties

Orient Petroleum International Inc

Subject Company

Procedural Posture

Corporate Matter / Judgment

Legal Issues

1 Whether Orient Petroleum International Inc should be wound up under the Companies Law

Ratio Decidendi

The court found that Orient Petroleum International Inc was unable to pay its debts and that no alternative remedy was appropriate, thus a winding up order was justified.

Court Disposition

winding up order granted

Orders

Orient Petroleum International Inc is to be wound up under the supervision of the court