In the matter of Herald Fund SPC [2009] CIFsd 23 (09 October 2009)

In the matter of Herald Fund SPC [2009] CIFsd 23 (09 October 2009)

The court found that Herald Fund SPC was insolvent and that it was just and equitable to wind up the company and appoint official liquidators.

Citation
[2009] CIFsd 23
Parties
Applicant: Herald Fund SPC
Jurisdiction
Cayman Islands
Judgment Date
09 October 2009
Procedural Posture
Insolvency / Judgment
Outcome
Application granted
Legal Topics
Winding Up of Funds, Appointment of Liquidators
Insolvency Law Financial Services Winding Up of Funds Appointment of Liquidators

Case Brief

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Parties

Herald Fund SPC

Applicant

Procedural Posture

Insolvency / Judgment

Legal Issues

  1. 1 Whether Herald Fund SPC should be wound up under the Companies Law
  2. 2 Whether official liquidators should be appointed

Ratio Decidendi

The court found that Herald Fund SPC was insolvent and that it was just and equitable to wind up the company and appoint official liquidators.

Court Disposition

Application granted

Orders

  • Herald Fund SPC is to be wound up by the court
  • Official liquidators are appointed