In the matter of Herald Fund SPC [2014] CIFsd 3 (28 January 2014)

In the matter of Herald Fund SPC [2014] CIFsd 3 (28 January 2014)

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

Citation
[2014] CIFsd 3
Parties
Applicant: Herald Fund SPC
Jurisdiction
Cayman Islands
Judgment Date
28 January 2014
Procedural Posture
Company Law / Judgment
Outcome
petition granted
Legal Topics
Winding Up, Liquidation, Investment Funds
Company Law Insolvency Winding Up Liquidation Investment Funds

Case Brief

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Parties

Herald Fund SPC

Applicant

Procedural Posture

Company Law / Judgment

Legal Issues

  1. 1 Whether Herald Fund SPC should be wound up under the Companies Law
  2. 2 Whether the appointment of liquidators is appropriate

Ratio Decidendi

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

Court Disposition

petition granted

Orders

  • Herald Fund SPC is wound up by the court.
  • Official liquidators are appointed over Herald Fund SPC.